Gulshan Stores Ltd with its head office in Calcutta invoiced goods to its branch at Patna at 20% less than the list price which is cost plus 100% with instructions that cash sales were to be made at the invoice price and credit sales at the catalogue price (i.e., list price).

From the following particulars available from the branch, prepare Branch Stock Account, Branch Adjustment Account, Branch Profit and Loss Account and Branch Debtors Account for the year ending 31.12.2018.

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Stock on 1.1.2018 (invoice price) Debtors on 1.1.2018 Goods received from head office (invoice price) Sales Cash Credit Cash from debtors Expenses at branch Remittance to head office Debtors on 31.12.2018 Stock on 31.12.2018 (invoice price) Particulars 23,000 50,000 ₹ 6,000 5,000 66,000 73,000 42,817 8,683 60,000 12,183 8,800