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masmith
New Member

How does a disaster casualty loss affect the balance sheet?

I have a hurricane {declared disaster] loss how do I show that on balance sheet?

1 Reply
bwa
Alumni
Alumni

How does a disaster casualty loss affect the balance sheet?

It would only show on the balance sheet to the extent that any income, expense or reimbursement from the casualty are included in your profit or loss.  There is no separate listing.

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