branch accounting, Accounting Basics

Assignment Help:
Mohan brothers invoiced goods to their branch at cost plus 33.33%. All the cash collected by branch is banked on the same day to the credit of head office. All expenses are paid by head office except petty expenses which are paid by the Branch Manager. Prepare branch account from the following:-
Rs.
Stock (1.4.2012)
15000
Stock (31.03.2013)
20000
Debtors (1.4.2012)
24200
Debtors (31.3.2013)
21500
Goods sent to branch from head office
56000
Cash Sales
38400
Credit Sales
44000
Furniture purchased by Branch
10000
Expenses paid by Head Office
7800
Expenses paid by Branch
2100
Branch cash balance on 1.4.2012
4400
Branch cash balance on 31.3.2013
5000

Related Discussions:- branch accounting

What do you eman by expenditure, Q. What do you eman by Expenditure? Ex...

Q. What do you eman by Expenditure? Expenditure -- an expenditure takes place when something is attained for a business -- an asset isbought, salaries are paid and so on. An ex

General rationale financial statements, General rationale financial stateme...

General rationale financial statements provide much of the information needed by external users of financial accounting. These financial statements are official reports providing i

Gender for the moment, The CPSdata to re-estimate the difference among aver...

The CPSdata to re-estimate the difference among average male and female pay. Use for example, the regression LS LNWAGE C FE a.  Can you avoid the hypothesis that mean female

Problems: please show all calculations, Problems: Please show all calculati...

Problems: Please show all calculations. Claudette, Inc., provides warranties for many of its products. The January 1, 2014, balance of the Estimated Warranty Liability account

Why justin maul wasn''t concerned, Kim presently owns a business that proce...

Kim presently owns a business that processes and distributes fresh vegetable to local supermarkets. She is looking to expand her business by acquiring the Lackawaxen Emu Oil Compan

Mr, 2. One never goes alone, hens operation research employs different tool...

2. One never goes alone, hens operation research employs different tools to accomplish: its own tasks, discus each and every tool employed by or throughout its doers.

What are the possible advantages of an offshore pension fund, Question 1: ...

Question 1: ‘A pension fund is an arrangement under which an organization makes financial provisions for its employees as well as its senior executives.' (a) What are the r

State the term- purchases returns and allowances, State the term- Purchases...

State the term- Purchases Returns and Allowances Purchases Returns and Allowances is the name of the account which provides better control of allowances and returns of mercha

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd