Question

Goods lost in an accident worth Rs 15000 These were insured and insurance company admitted a claim of Rs 12000 only

Answer 1

insurance a/c. Dr. 15000

To purchase a/c. 15000

goods lost in accident a/c. Dr. 15000

To purchase a/c. 15000

cash a/c. Dr. 13000

abnormal loss a/c Dr. 2000

To goods lost in transit