Question

21. Journalise the following transactions in the books of Ram Gopal :
2016
Feb. 1
Goods destroyed by fire 16,000. Goods were uninsured.
Feb. 4 Goods destroyed by rain 90,000. Insurance company admitted the full claim.
Feb. 8
Goods destroyed in transit = 25,000. Transport company admitted the claim = 19,000.
Feb. 12 Goods destroyed by flood 38,000. Full claim received from the Government by
cheque.
Feb. 18 Cash stolen from the cash box = 45,000. With the help of police, * 27,000 could be
recovered the same day.
Feb. 25 Goods destroyed by accident 7 91,000. Insurance company paid the claim = 71,000
Hint: On Feb. 18, the entry will be passed with the net amount of loss.

send me the answer quickly ​

Answer 1

Explanation:

Feb 1

loss by fire A/c Dr 16000

To goods destroyed by fire A/c 16000

Feb 4

insurance claim receivable A/c Dr 90,000

To goods destroyed by rain A/c 90,000

Feb 8

loss in transit A/c Dr 6000

insurance claim receivable A/c Dr 19000

To goods destroyed in transit A/c 25000

Feb 12

Bank A/c Dr 38000

To goods destroyed by flood A/c 38000

Feb 18

loss by thief A/c Dr 18000

Cash A/c Dr 27000

To cash stolen A/c 45000

loss by accident A/c Dr 20,000

insurance claim receivable A/c Dr 71000

To goods destroyed by accident A/c 91000