MOHIT (SERVICE) (69 Points)
25 July 2008Hi!
suppose B is a customer of A & C is customer of A , all of them are contractor in eachself. Employee of C some goods worth Rs. 15000/-has stolen of B . So B deducted Rs. 15000/- from Monthly billing made by A on B.
plz suggest me what entry or entries will be passed in the books of A as per AS & also mention the name of AS
thanks.
A RAMA SARMA
(practice)
(45 Points)
Replied 25 July 2008
In the Books of " C "
Concerned Employee A/c (if recovered from employee) Dr 15000
TO " A " A/c 15000
(OR)
Profit & Loss A/c ( if not recovered from employee) Dr 15000
To " A " A/c 15000
In the Books of " A "
" C " A/c Dr 15000
To " B " A/c 15000
In the Books of " B "
" A " A/c Dr 15000
To Concerned Stock A/c 15000
Hemant Kyal
(Service)
(348 Points)
Replied 25 July 2008
dunno about the AS but the entry would be (in A's books) for rs 15000.00
Dr. C's current A/c
Cr. B's Current A/c
and im sure theres no AS for this.....
But tell me for the theft made by employee of C y is B charging A for it ????
Pooja Chopda
(Practising Chartered Accountant)
(931 Points)
Replied 25 July 2008
My doubt is same as Hemant's ques. Something happened b/w B & C...how is A bothered about it.....also C's employee was the culprit.......why is C bearing the loss..............If I do something immoral outside my employment...that does not affect my employer??
Shaik Ahmed Hussain
(Auditor)
(46 Points)
Replied 29 July 2008
Its look very funny. Practically not possible. No Firm will allow to do this.
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