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We had purchased 100 Electrodes @ Rs 20/- Each. After a
year we found 2 Electrodes is missing by physical Count.
My Question is what journal entry should we passed against
missing of 2 electrodes.
- 3 Answers
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Loss by theft a/c Dr. 40
To Purchase or Electrodes a/c 40
| Is This Answer Correct ? | 20 Yes | 0 No |
Answer / yogendra.c
Usual Entry is:
--------------
Loss by Theft A/c Dr - 40
To Electordes A/c - 40
Incase if you are sure that it was mistake of Supplier
------------------------------------------------------
Creditor A/c Dr - 40
To Electrodes A/c - 40
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / aman
PURCHASE ACCOUNT DR 2000
TO PARTY ACCOUNT 2000
( BENING PURCHASE ELECTROESD BY ....)
PARTY ACCOUNT DR 40
TO PURCHASE A/C 40
( BEING SHORT ELECTROD 20*2)
| Is This Answer Correct ? | 3 Yes | 5 No |
What will be the Journal Entry for this? Purchases goods from vendor worth Rs.20000.VAT included 4%.
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