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2. salary a/c. Dr. 5000
to outstanding salary a/c. 5000
3. Insurance claim a/c Dr. 5000
Loss by fire a/c Dr. 3000
To purchase a/c. 8000
4. cash a/c Dr. 9000
to unearned rent a/c 9000
GNAnishka:
Will you clarify my doubt
i will if i can
Ok
listen
If the cost price of closing stock is Rs. 20,000 and market value is Rs. 15,000 which value is taken
in financial statement and as per which concept?
in financial statement and as per which concept?
cost concept
20000
how
as per this concept the actual value in which the assets acquired is recorded not in the market value
Ok thanks
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