DEBTORS SYSTEM (AT COST PRICE)
1. India Traders, Mumbai opened a branch at Kolkata on 1st January 2018. Following information is available in respect of the branch for the year 2018:
Goods sent to branch 75,000
Cash sales at the branch 50,000
cash remittance to branch towards petty cash 6,000
Credit sales at the branch 60,000
Petty Cash at branch on 31-12-2018 500
salaries of branch staff paid by head office 15,000
Debtors at branch on 31-12-2018 5,000 Stock at the branch on 31-12-2018 27000
office exp. of the branch paid by the head office 12,000
Cash received from Debtors 55,000
Prepare Braneh Account to show the profit/loss from the branch for the year 2018 :
Who can solve this question lots of love and respect from me
thank you very much
Answers
cash remittance to branch towards petty cash 6000
petty cash at branch on 31- 12 - 2017 500
debtors at branch on 31 12 2017 5000
stock at branch on 31 13 2017 27000
cash received from debtors 55000
prepare branch accounts to show t
india traders , mumbai opened a branch at Kolkata on ist January 2017. following information is available in respect of the branch for the year 2017 :
Goods send to branch 75000
cash sale at the branch 50000
salaries of the branch staff paid by head office 15000
office expance of the branch paid by the head office 12000
cash remittance to branch towards petty cash 6000
petty cash at branch on 31- 12 - 2017 500
debtors at branch on 31 12 2017 5000
stock at branch on 31 13 2017 27000
cash received from debtors 55000
prepare branch accounts to show the profit and loss from the branch for the year 2017