1. The Head Office sends goods at cost and instructs the branch to sell the goods at a profit of 20% on selling price. What is the total sales, if: Opening stock at RM 36,000, Goods sent to branch RM 600,000, Closing stock RM 60,000.

2. From the below information, the value of Furniture shown on the Credit side of Branch Account under Debtors System will be. Furniture on April 1, 1015 – RM 20,000;

Furniture sold on October 1, 2015 – RM.9,000 (book value on 1/10/2005 – RM 9,500); Furniture purchased on 1/10/2005 – RM.17,000;

Depreciation on Furniture – 10% p.a.

From the above information, the value of Furniture shown on the Credit side of Branch Account will be how much?

3. The opening balance of Petty Cash at the Branch is RM2,000, amount received from the Head Office for Petty Cash Expenses is RM.10,000, the closing balance of Petty Cash is RM 3,000; Which of the following is the correct?

Select one:

a. RM3,000 on the Credit side of the Branch Account as Petty Cash

b. RM 7,000 on the debit side of the Branch Account as Petty Cash Expenses

c. RM9,000 on the Debit side of the Branch Account as Petty Expenses

d. RM 7,000 on the Credit side of the Branch Account as Petty Cash Expenses

4. The cash and credit sales of the branch are RM5,000 and RsM15,000 respectively. The amount collected from debtors is RM10,000. The amount to be credited to Branch Account will be how much?

5. Goods are sent to branch at cost plus 20%. The loading on the invoice price will be

Select one:

a. 33%

b. 16.67%

c. 28%

d. 25%

Answer rating: 100% (QA)

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