Accountancy, asked by Anonymous, 1 year ago

Give the journal for Goods destroyed by fire rs 500.

Answers

Answered by Vickypanjiyar
136
Loss by fire account....Dr. 500
To purchase account.. 500
Answered by phillipinestest
40

Journal for Goods destroyed in fire:

Journal entry of the problem Goods damaged in fire Rs. 500.Journal entry is used for keeping accounts of debit and credited money.

 Loss because of fire is a nominal account hence it will be debited. (Debit all expense/loss and credit all income/gain.)

Goods lost due to fire are not there into the business hence it is credited and it is real account. (Credited money would be debited.)

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