Stolen Asset

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Teejay

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Good day all,

What is the treatment of stolen Asset (Motor Vehicle) in use with insurance claim on it.

Thank you
 
M

mackwaa

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Sep 23, 2011
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Teejay said:
Good day all,

What is the treatment of stolen Asset (Motor Vehicle) in use with insurance claim on it.

Thank you
Click to expand...
A little cryptic...

The vehicle is removed from the books by recording the amount received from the insurance company against the book value of the vehicle...

If that's what you're asking
 
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