Loss by Fire Account
If your goods or Money is burnt by fire then these entries will be counted in Loss by Fire Ac. Loss by Fire Ac is a type of Nominal Ac. It will be always in DR.
1. Cash 5000 burt by fire.
| Loss by fire | DR | 5000 |
|---|---|---|
| Cash Ac | CR | 5000 |
2. Goods worth rs of 6000 burt by fire.
| Loss by fire | DR | 6000 |
|---|---|---|
| Purchased Ac | CR | 6000 |
1. Cash 4000 and goods of 6000 burt by fire.
| Loss by fire | DR | 10000 |
|---|---|---|
| Cash Ac | CR | 4000 |
| Purchased Ac | CR | 6000 |
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