. A company sends goods to its branch at cost plus 25%. The following particulars are available in respect of the
branch for the ended 31st March,2017:
Amount ( in Rs.)
Opening Stock at branch at cost to the branch 80,000
Goods sent to branch at Invoice Price 12,00,000
Loss in transit at Invoice Price 15,000
Pilferage at Invoice Price 6,000
Sales 12,19,000
Expenses 60,000
Closing Stock at branch at cost to the branch 40,000
Recovery from Insurance Company against in transit 10,000
Prepare (i) Branch Stock A/c: (ii) Goods sent to Branch A/c: (iii) Branch Adjustment A/c: and (iv) Branch Profit and Loss
A/c.
Answers
Answer:
Branch Profit and Loss A/c 11,28,000
Explanation:
From the above question,
They have given :
A company sends goods to its branch at cost plus 25%. The following particulars are available in respect of the branch for the ended 31st March,2017.
(i) Branch Stock A/c
Particulars
Debit (Rs.) Credit (Rs.)
Opening Stock 80,000
Closing Stock 40,000
120,000
120,000
(ii) Goods sent to Branch A/c
Particulars
Debit (Rs.) Credit (Rs.)
Branch Stock A/c 12,00,000
12,00,000
12,00,000
(iii) Branch Adjustment A/c
Particulars
Debit (Rs.) Credit (Rs.)
Loss in transit 15,000
Pilferage 6,000
Recovery from Insurance Company 10,000
31,000
31,000
(iv) Branch Profit and Loss A/c
Particulars
Debit (Rs.) Credit (Rs.)
Sales 12,19,000
Expenses 60,000
Branch Adjustment A/c 31,000
Profit 11,28,000
11,28,000 11,28,000
For more such related questions : https://brainly.in/question/19668081
#SPJ1