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Illustration of double entryThe balances on the current accounts of a head office and branch were Ksh 698,000, before the transactions listed below:
Kshs
Goods sent to branch by head office
1,727,000
Remittances received by head office from branch
892,000
Goods received by branch from head office
1,620,000
Remittances sent to head office by branch
944,000
Branch profit for the period
594,000
Goods in transit from head office to branch
107,000
Cash in transit from branch to head office
52,000
Books of head office:
Branch Current A/C
Sh
Bal b/d
698,000
Cash book
GSTB
Bal c/d
*1,533,000
2,425,000
1,533,000
Goods in transit
Branch profit
Cash in transit
________
1,968,000
2,127,000
* Entry that is usually found in the trial balance of the Head Office.
Goods sent to branch
Branch current a/c
Books of the branch:
Head office current account
Bal c/d*
1,374,000
2,318,000
* Entry that is usually found in the trial balance of the branch.
Goods from head office
H.O current a/c
Sales= 4,500,000 Min required return= 15% Avg Operating assets= 1,800,00 Residual Income= 90,000 !) Whats the company's return on investments? Please show work so I can see how
First Meeting of creditors The Official Receiver must convene this meeting within 60 days of the receiving order, unless the court extends the time, by giving notice to each c
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The Budvar Company purchases parts from a foreign customer on December 1, Year 1, with payment of 20,000 crowns 20,000 crowns to be made on March 1, Year 2. Budvar enters into a f
prepare your recommendation on Agarwal cast company
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GOODS AT BRANCH MARKED DOWN, OR MARKED UP BY AN ADDITIONAL AMOUNT If goods at the branch are not selling well, branch could be authorized by the Head office to mark-down the good
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