Question

Tume cares

In the balance sheet of head office
"goods in transit" are​

Answer 1

Answer:

Adjustment entry will have to be passed to incorporate the goods in transit in the books of head office. It is because all in transit items are normally detected by head office after receiving the trial balance or the copy of final account. Goods in transit will appear on the assets side of head office balance sheet.

Answer 2

Answer:

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