Cash embezzled by himanshu ₹33000
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Journal Entry for Cash Embezzlement by Employee :-
If Goods or Cash is stolen or misappropriated by an dishonest employee, it is called Embezzlement. Since, Embezzlement of Goods/Cash is a loss to the firm. So, Embezzlement A/c will be debited, According to the rule of Nominal account, “Debit All expenses and losses”, and Cash A/c will be credited because of the rule of Real account “Credit what goes out”. As Cash is going out of the business. In such a case, Following Journal Entry is passed :
Loss by Embezzlement A/c. Dr.33,000
To Cash A/c. (For cash stolen) 33,000
To purchases A/c. (For Goods stolen) 33,000
(Being Goods/Cash Stolen by an employee)
Hopes this helps!
If Goods or Cash is stolen or misappropriated by an dishonest employee, it is called Embezzlement. Since, Embezzlement of Goods/Cash is a loss to the firm. So, Embezzlement A/c will be debited, According to the rule of Nominal account, “Debit All expenses and losses”, and Cash A/c will be credited because of the rule of Real account “Credit what goes out”. As Cash is going out of the business. In such a case, Following Journal Entry is passed :
Loss by Embezzlement A/c. Dr.33,000
To Cash A/c. (For cash stolen) 33,000
To purchases A/c. (For Goods stolen) 33,000
(Being Goods/Cash Stolen by an employee)
Hopes this helps!
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Answer:
the entry of the following journal is
cash embezzlement A/c dr. 33000
to cash A/c 33000
Explanation:
here the answer
hope its help
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