6000 was stolen from the safe of the firm. (journal entry)
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Answered by
3
Answer:
Since , there is loss of cash , we will reduce it.
( As we follow the rule of “Debit what comes in and credit what goes out” in case of Assets )
We will debit the account of “ Loss from Theft”
( As we follow the rule of “ Debit all expenses”)
So the entry will be -
Loss from Theft A/c. Dr. ________6000
To Cash A/c.
Answered by
1
The journal entry for Rs 6000 stolen from the save of a firm will be as follows-
- Loss from Theft A/c. Dr _______
X.
To Cash A/c.
______________________X
Since, there is loss of cash, we will reduce it.
(As we follow the rule of "Debit what comes in and credit what goes out " in case of Assets)
we will debit the the account of " loss from Theft "
(As we follow the ruler "Debit all expenses ")
so the entry will be -
- loss from Theft A/c.Dr.
_______6000
To Cash A/c.
_____________6000
it's help u
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