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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.

Question Posted / mlv

Answers were Sorted based on User's Feedback



We had purchased 100 Electrodes @ Rs 20/- Each. After a year we found 2 Electrodes is missing by p..

Answer / niraj purwar

Loss by theft a/c Dr. 40

To Purchase or Electrodes a/c 40

Is This Answer Correct ?    20 Yes 0 No

We had purchased 100 Electrodes @ Rs 20/- Each. After a year we found 2 Electrodes is missing by p..

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

We had purchased 100 Electrodes @ Rs 20/- Each. After a year we found 2 Electrodes is missing by p..

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

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