Question

Goods costing rs 900 destroyed by fire give the journal entry

Answer 1

Explanation:

we know that debit all expenses and losses and credit all incomes and gains .

so , here goods of rs20,000 getting destroyed so debit it .

so we will debit loss by fire .

and , rs10,000 is distributed as free that means it is also loss so debit it . so, we will debit the loss by free samples to employee.

Therefore , journal entry will be :-

Loss by fire A/C dr 20000

Free samples A/C dr 10000

To purchase A/C 30000

hope it helps !

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Answer 2

Answer:

profit and loss a/c...dr.

To abnormal loss a/c