Due to fire in the godown of raw materials the company has to bear the loss of Rs60,000. Show the effect of this information in Trading and Profit and loss account and in balance sheet.
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first of all of it is raw material it will come in the manufacturing a/c but you can write it on the credit side of trading a/c as loss by fire a/c and in p and l a/c as in debit loss by fire
Ronak0020:
Hii
hii
If we write on the debit side of trading a/c and in p&la/c both
Will it be right?
P&l a/c
Profit and loss
Will it be right?
i said credit of trading and debit of p&l a/c as it is a non overating loss
Ok thanks
haa
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Answer:
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