Question

theft by cashier 700 Rs ​

Answer 1

Answer:

Plz complete ur question....

Answer 2

Explanation:

Before passing journal entries first we should know the rules of passing journal entries. Here we go

1.personal A/C

all person whether artificial or natural comes under personal A/C. Eg. Bank , Ramesh’s a/c and so on.

Rules of passing journal entry.

Debit the receiver

Credit the giver

For instance, paid to rohan

In this case rohan is receiving money.

Hence rohan will be debited.

2. Real A/C

Tangible and intangible assets fall under this account. Eg. Cash , machinery , trade mark etc.

Rules

Debit what comes in

Credit what goes out

For instance, machinery purchased.

Here machinery comes in organization and cash goes out.

Machinery account will be debited and cash will be credited.

Journal entry.

Machinery a/c Dr.

To cash a/c

2Nominal A/C

Such account having nature of income profit expenses and losses. Eg. Salary , commission, wages, rent etc.

Rules

Debit all the expenses and losses

Credit all the income and gains

For instance, salary paid

Salary a/c Dr

To cash a/c.

Now the question is the journal entry for goods and cash stolen by an employee.

Here the answer is.

In this question, goods and cash are stolen i.e.both are going outside from the organization and it is a loss to the organization

Cash is real account, goods is real account too .

So loss by theft will be debited because cash and goods were stolen by an employee which is a loss.and cash and purchase will be credited because it has gone out from the business i.e. cash and purchase are reduced. Whenever asset value is reduced that is credited.

Journal entry

Loss by theft a/c Dr.

To cash a/c

To purchase a/c