Bit Ltd is a computer supplies retailer with a branch St James. Goods are invoiced to the branch at cost plus 25%. The branch remits all cash received to head office and all expenses are paid by the head office. The following information relating to the branch, is available:

$ Branch Debtors on 2018 January 01 90 000

Branch Stock on 2018 January 01 36 000 Sales:

cash 40 000 Sales: credit 920 000

Goods from Head Office (invoice price) 840 000

Cash received from debtors 576 000

Discount Allowed to debtors 14 000

Bad debts 3 000

Branch expenses paid by Head Office 50 000

Branch Stock on 2018 December 31 160 000 Required:

A. Prepare the following accounts:

i. Branch Stock (5 marks)

ii. Goods Sent to Branch (2 marks)

iii. Branch Adjustment (3 marks)

iv. Branch Debtors (5 marks)

B. Branch Profit and Loss Account in the books of the Head Office. (5 marks)