Bombay Traders Ltd. sends goods to its Madras branch at cost plus 25%. The following particulars are
Question:
Bombay Traders Ltd. sends goods to its Madras branch at cost plus 25%. The following particulars are available in respect of the branch for the year ended 31st March 2017:
Show Ledger Accounts in the Head Office books for:
(a) Branch Stock Account
(b) Goods Sent to Branch Account
(c) Branch Adjustment Account
(d) Branch Profit and Loss Account.
Transcribed Image Text:
Particulars Opening stock at branch at invoice price to branch Goods sent to branch at invoice price Loss in transit at invoice price Pilferage at invoice price ₹ 80,000 Sales 12,00,000 Expenses 15,000 6,000 Particulars Closing stock at branch at invoice price to branch Recovered from insurance co. against loss-in-transit ₹ 12,19,000 60,000 40,000 10,000
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a Branch Stock Account Date Particulars Debit Credit 31Mar17 To O...View the full answer
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Related Book For
Financial Accounting Volume II
ISBN: 9789387886230
4th Edition
Authors: Mohamed Hanif, Amitabha Mukherjee
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