Question

Cash stolen from office half of which is returned journal entry

Answer 1

heyaa,,,
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¤ journal entry for Cash stolen from office half of which is returned journal entry will be;
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loss by theft a/c dr (1/2)
cash a/c dr (1/2)
to cash a/c (1/2)
to loss by theft recover a/c(1/2)
(being cash theft from office in which 50% amount received.)
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¤ here reason for debit and ceedit;
¤ loss by theft is loss for business so, it will be debited.
¤ half amount recoverd means cash is coming in to the business so, it will be debited.
¤ due to loss cash is going out so, it will be credited.
¤ cash is recoverd so it will be credited.
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hope it helps☺☺☺