LOSS OF GOODS & CASH
This query is : Resolved
tarunjjain
(Querist)
06 September 2010
MY CLINET DEALING IN GOLD JEWELELRY. ONE DAY HE LOST JEWELLERY WORTH RS. 32 LACS AND 57 LAC CASH.AFTER SOME DAY HE RECEIVED BACK GOLD WORTH OF RS. 22 LAC AND CASH RS. 25 LAC WITH THE HELP OF POLICE.
WHAT WILL BE THE ENTRY FOR LOST JEWELLRY AND CASH IN BOOKS OF ACCOUNT.
WHAT WILL BE THE ENTRY FOR LOST JEWELLRY AND CASH IN BOOKS OF ACCOUNT.
06 September 2010
The entry will be for the actual amount of goods and cash lost namely 10 lcas for gold and 32 lacs for cash.
Debit stock lost (exps) and credit inventory.
Debit cash lost (exps) and credit cash.
Hope query is resolved. If not, pls revert.
Debit stock lost (exps) and credit inventory.
Debit cash lost (exps) and credit cash.
Hope query is resolved. If not, pls revert.
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