What accounting entry should be passed in tally
This query is : Resolved
15 January 2011
opning balance of cash in hand is overstated by Rs.5000/-(L.Y. cl. bal).
reason is cash embezzeled by the accountant and cannot be claimed now.
what entry should be passed and also it
should be passed in payment mode or not.
reason is cash embezzeled by the accountant and cannot be claimed now.
what entry should be passed and also it
should be passed in payment mode or not.
15 January 2011
It need to be passed as Dr: Abnormal loss thorugh payment entry
15 January 2011
Loss by Theft Dr...
To Cash
To Cash
15 January 2011
Both the above entries can be passed.
More Suitable
----------------
Since the loss is belonging to previous year hence :
Profit & Loss A/c Adjustment A/c Dr. 5000
To Cash A/c
It is a prior period item hence care to be taken while finalising the books.
Note :
------
Care should also be taken of New Accountant !
More Suitable
----------------
Since the loss is belonging to previous year hence :
Profit & Loss A/c Adjustment A/c Dr. 5000
To Cash A/c
It is a prior period item hence care to be taken while finalising the books.
Note :
------
Care should also be taken of New Accountant !
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