A Head Office at Madras has a Branch at Kollam. Goods are sent by the Head...

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A Head Office at Madras has a Branch at Kollam. Goods are sent by the Head Office to its Branch at cost which the branch sells both for cash and on credit. The following relate to the branch for the year 2015. Stock at branch on 1.1.15 Branch debtors on 1.1.15 Furniture at branch on 1.1.15 Goods sent to branch during the year Cash sales during the year Credit sales during the year Cash received from debtors Returns by debtors to branch Discount allowed to debtors Bad debts written off Remittance to branch for expenses Stock at branch on 31.12.15 Branch debtors on 31.12.15 Value of furniture on 31.12.15 gi24,000 7,000 8,000 1,40,000 82,000 90,000 83,000 2,000 1,000 500 7,000 40,000 10,500 6,400 Prepare Kollam Branch Account to find out the profit at branch. Also prepare Branch Debtors Account. The entries in Profit and Loss Account and Balance Sheet as on 31st Dec. 2015. A Head Office at Madras has a Branch at Kollam. Goods are sent by the Head Office to its Branch at cost which the branch sells both for cash and on credit. The following relate to the branch for the year 2015. Stock at branch on 1.1.15 Branch debtors on 1.1.15 Furniture at branch on 1.1.15 Goods sent to branch during the year Cash sales during the year Credit sales during the year Cash received from debtors Returns by debtors to branch Discount allowed to debtors Bad debts written off Remittance to branch for expenses Stock at branch on 31.12.15 Branch debtors on 31.12.15 Value of furniture on 31.12.15 gi24,000 7,000 8,000 1,40,000 82,000 90,000 83,000 2,000 1,000 500 7,000 40,000 10,500 6,400 Prepare Kollam Branch Account to find out the profit at branch. Also prepare Branch Debtors Account. The entries in Profit and Loss Account and Balance Sheet as on 31st Dec. 2015.

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