Goods stolen by employees are typically recorded in the Journal Proper. This is because the Journal Proper is used for recording infrequent transactions, and employee theft would fall under this category.

Here's a step-by-step breakdown:

1. Identify the theft: Once the theft has been identified and confirmed, the details of the stolen goods need to be documented. This includes the type of goods, their value, and the date of the theft.

2. Record in the Journal Proper: The next step is to record this information in the Journal Proper. This is done by debiting the loss due to theft and crediting the respective inventory account.

3. Update the ledger: After the entry has been made in the Journal Proper, the ledger needs to be updated to reflect this change. This ensures that the financial statements of the business are accurate.

So, the correct answer to your question is B. Journal Proper.

Question

Goods stolen by employees are typically recorded in the Journal Proper. This is because the Journal Proper is used for recording infrequent transactions, and employee theft would fall under this category.

Here's a step-by-step breakdown:

1. Identify the theft: Once the theft has been identified and confirmed, the details of the stolen goods need to be documented. This includes the type of goods, their value, and the date of the theft.

2. Record in the Journal Proper: The next step is to record this information in the Journal Proper. This is done by debiting the loss due to theft and crediting the respective inventory account.

3. Update the ledger: After the entry has been made in the Journal Proper, the ledger needs to be updated to reflect this change. This ensures that the financial statements of the business are accurate.

So, the correct answer to your question is B. Journal Proper.

Knowee AI · Accepted Answer

Goods stolen by employees are typically recorded in the Journal Proper. This is because the Journal Proper is used for recording infrequent transactions, and employee theft would fall under this category.

Here's a step-by-step breakdown:

1. Identify the theft: Once the theft has been identified and confirmed, the details of the stolen goods need to be documented. This includes the type of goods, their value, and the date of the theft.

2. Record in the Journal Proper: The next step is to record this information in the Journal Proper. This is done by debiting the loss due to theft and crediting the respective inventory account.

3. Update the ledger: After the entry has been made in the Journal Proper, the ledger needs to be updated to reflect this change. This ensures that the financial statements of the business are accurate.

So, the correct answer to your question is B. Journal Proper.

Goods stolen by employees are entered in which of the following daybook A. Sales daybook B. Journal proper C. Goods taken daybook D. Purchases daybook

Question

Goods stolen by employees are entered in which of the following daybook?

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