Question

Abnormal Loss of Goods
The goods worth 24,000 of Miss Meena were destroyed in an accident during the year
2018-19 (CGST 6% and SGST 6%). What adjusting entres will be required to give effect to
the above loss under the following conditions ? Also, show their treatment in final accounts:
(i) If the goods were not insured ;
(ii) If the goods were fully insured ;
(iii) If the goods were partly insured and claim accepted by insurance company is 18,000.​

Answer 1

Answer:

if the goods were full insured

Explanation:

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