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Record the transactions in the books of Head Office

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Problem - ABC with head office in Karachi of Opened a branch in Lahore, following transactions completed during the year (a) head office send cash Rs. 100000, Equipment Rs. 200000 to Lahore branch (b) Head office and Merchandise to Lahore branch costing Rs. 80000 and billed Rupees 100000. (c) Lahore branch purchase Merchandise from local market Rs. 150000 on account (e) Lahore Branch sold Merchandise for cash Rs. 60000 and on account Rs. 130000 (f) Lahore branch sent cash to Head office Rs. 90000 (g) Head office paid Lahore branch accounts payable Rs. 70000 (h) Head office collected Lahore branch accounts receivable Rs. 50000 (i) Lahore branch collected account receivable of head office Rs. 80000.

Required - Record the above transactions in the books of Head Office and Lahore branch?

Reference no: EM132717624

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