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Inventory stolen and fraud

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Inventory stolen and fraud

  • This topic has 0 replies, 1 voice, and was last updated 14 years ago by nadir.
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  • May 8, 2011 at 9:15 am #48363
    nadir
    Member
    • Topics: 71
    • Replies: 43
    • ☆☆

    Inventory stolen
    (1)If inventory has been stolen and it is insured, what are the entries that we should made in the financial statements???
    (2) If inventory has been stolen and it is insured but the insurance claim has not been received yet , what are the entries that we should made in the financial statements???
    (3) If inventory has been stolen and it is not insured, what are the entries that we should made in the financial statements???

    fraud
    (4) If receivables has paid their debts but the credit controller has stolen the money, the money can be recovered from the credit controller and the company is also insured for the loss, what are the entries that we should made in the financial statements???

    (5)If receivables has paid their debts but the credit controller has stolen the money, the money cannot be recovered from the credit controller but the company is insured for the loss, what are the entries that we should made in the financial statements???

    (6)If receivables has paid their debts but the credit controller has stolen the money, the money can be recovered from the credit controller but the company is not insured for the loss, what are the entries that we should made in the financial statements???

    Thanks in advance

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