A Calcutta Head Office has a branch at Nagpur. Goods are invoiced by the head office to
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A Calcutta Head Office has a branch at Nagpur. Goods are invoiced by the head office to the branch at cost plus 25%. From the following particulars, prepare the (1) Branch Stock Account, (2) Goods Sent to Branch Account, (3) Branch Stock Adjustment Account, (4) Branch Debtors Account, and (5) Branch Profit and Loss Account:
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Stock on 1st January, 2017 (invoice price) Goods invoiced to branch during the year (invoice price) Branch debtors on 1st January, 2017 Goods returned by branch (invoice price) Branch Sales: Cash Credit Bad debts written off Discounts allowed to Debtors Branch Expenses Particulars 64,000 72,800 ₹ 30,000 1,38,000 24,000 2,000 1,36,800 700 500 14,500
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Related Book For
Financial Accounting Volume II
ISBN: 9789387886230
4th Edition
Authors: Mohamed Hanif, Amitabha Mukherjee
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