Question

What journal entries are made in the books of head office to incorporate branch trial balance?

Answer 1

Journal entries to incorporate all branch trial balance accounts in HO books will be as follows :

1) assets a/cs Dr.  

      To Branch a/c.

2) expenses a/cs Dr.

       To Branch a/c

3) Branch a/c Dr.

       To liabilities a/c.

4) Branch a/c Dr.

         To incomes a/c.

Answer 2

The entries made in the ‘books of head office’ to incorporate branch trial balance are different revenue items of the branch in regards to trading the Profit and Loss Account is prepared. The asset and liabilities are shown.

Explanation:

• When the branches are ‘small their accounts’ are maintained by the ‘head office’. The ‘head office’ is required to show a comprehensive balance sheet.  

• The balance sheet consists of the ‘debit and credit’ columns and the profit and loss account for the company.

Learn more about trial balance

Trial balance is a part of double entry system? if yes then why.

https://brainly.in/question/5937110

If the trial balance does not tally it means there are some errors in book of accounts. Explain the procedure of locating these errors

https://brainly.in/question/3602202