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A Surat merchant has a branch at Tiruchirapalli (TN) to which charges the goods at cost plus 25%. The Tiruchirapalli Branch keeps its own sales
A Surat merchant has a branch at Tiruchirapalli (TN) to which charges the goods at cost plus 25%. The Tiruchirapalli Branch keeps its own sales ledger and transmits all cash received to the H.O. every day. All expenses are paid from the H.O. The transactions were as follows: ||Rs Stock on Apr 1, 2009 180,000 Debtors on Apr 1, 2008 1800||Rs Petty Cash 800 Cash Sales 120,800 Goods sent to Branch 11,40,000 Collections from Ledger Account |1,52.000 Goods returned to H.O. 12,000 Bad Debts 11,600 Allowances to Customers |1,200 Return Inwards 13,000 Cheques sent to Branch: I Rent 14.000 Salaries 18.000 Stock as on Mar 31. 2009 1.00,000 Debtors as on Mar 31, 2009 14,000 Petty Cash including Miscellaneous Income Rs 200 not remitted on Mar 31 2009; 1600 Prepare the Branch Trading and Profit and Logs Account for the year ending on Mar 15, 2009 and the branch accounts re Doors of the HO
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