Reference no: EM132557630

Multichained Stores Ltd.Delhi has its branches at Lucknow and Chennai. It charges goods t o its branches at cost plus 25% .The following information is available of the transactions of the Lucknow branch for the year ended on 31st March ,2015 :

Balance on 1-4-2014 : Rs. Stock 30,000 Debtors 10,000 Petty Cash 50 Transactions during 2014 -2015 ( Lucknow Branch ) Goods sent to Lucknow Branch at invoice price 3,25,000 Goods returned by branch to Head office at invoice price 10,000 Cash Sales 1,00,000 Credit sales 1,57,000 Goods pilfered ( invoice price) 2,000 Goods lost in fire ( invoice price) 5,000 Insurance company paid to H.O for loss by fire at Lucknow 3,000 Cash sent for petty expenses 34,000 Bad debts at Branch 500 Goods transferred to Chennai Branch under H.O .advice 15,000 Insurance charges paid by H.O. 500 Goods returned by Debtor to the branch 500

Goods returned by debtors directly to H.O. 1,000 Balance on 31-3-2015 : Petty Cash 230 Debtors 13,000

Question 1: Prepare necessary ledger accounts as per Stock and Debtors system.