Question

Goods worth Rs 5000 lost by theft and insurance company claimed in full. ​

Answer 1

Answer:

Loss by theft A/c Dr. 5000

To purchases A/c 5000

(Being goods worth Rs 5000 lost by theft)

Insurance company A/c Dr. 5000

To loss by theft A/c 5000

(Being insurance company claim in full)

Hope this helps you!

Answer 2

Answer:

Loss by theft A/c Dr. 5000

To purchases A/c 5000

(Being goods worth Rs 5000 lost by theft and insurance company claim in full)