Question

In the books of Independent Branch 1 point
Cash-in-transit is
સ્વતંત્ર
શાખાના ચોપડે માર્ગસ્થ રોકડની અસર
થાય છે. જે
O
Debited to Head Office A/C મુખ્ય ઓફિસ
ખાતે ઉધાર
Credited to Head Office A/c 4w ziliszt
O O
ખાતે જમાં
O o
Credited to Cash A/c રોકડ ખાતે જમા
O Debited to Trading A/c વેપાર ખાતે ઉધાર​

Answer 1

Answer:

Option C

Explanation:

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Answer 2

Answer:

Option - Credited to the Head office a/c is the correct answer.

Explanation:

• Independent branches are those that maintain a full accounting system. This specifically occurs when they have very high sizes because of numerous functional complexities. In other words, they independently prepare their accounts, which means that in addition to the commodities given by the head office, they also independently buy and sell goods for cash and credit.

Features of Independent Branch:

1. A complete set of books is kept by Independent Branch. Such a Branch receives supplies from both the Head Office and other sources. It has a bank account of its own. As a result, the Branch maintains a complex accounting system.
2. It creates its balance sheet, trading account, and profit and loss account. To be included in the Head Office Books, copies of these statements are delivered to head office.
3. Everything received from the head office and everything submitted to the head office are credited to an account called "Head Office Account" or "Head Office Current Account" in the books. In other words, this Account contains a record of every transaction involving Head Office. A proprietorship account is the head office's current account as a result (i.e. Capital Account).
4. Despite its independence, the Branch still needs resources to function, and the Head Office provides such resources, especially in the beginning. As a result, the investments made by the Head Office are personal Accounts as seen from the Head Office Account.

Hence, any transaction related to Independent Branch deals with the Head office account.

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