Ask Experts Questions for FREE Help!
 
Free Answers in 3 Easy Steps

Register Now		 3 Steps
 
Ask QuestionsprogressAnswer QuestionsprogressBuild ReputationprogressBecome an Expert
 
At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to:
  • Get free answers from experts in any of our 300+ topics.
  • Accept money for answers that you provide.
  • Communicate privately with other members (PM).
  • See fewer ads.
  Answer this Question    Ask about Accounting    Ask about another Subject  
 
PDA

GEETHA71
Dec 14, 2007, 12:35 AM
I have to account for assets lost by fire with a WDV of say 10 lacs.
Insurance taken is for an amount which is more than the WDV of the asset say 15 lacs.
Insurance company is still to revert about the claim made by me.
For closing of books, how do I account for the situations as on today?