I need to be solve this exercise, according AS-11

Minota Enterprises having its Head Office in Bankok has a branch in New Jersy, USA. Following is the trial balance of Branch as at 31 -3-2019:

Particulars Amount ($) Amount ($)

Dr. Cr.

Fixed assets 8000

Opening inventory 800

Cash 700

Goods received from Head Office 2800

Sales

Purchases 11800 24050

Expenses 1800

Remittance to head office 2450

Head office account 4300

28350 28350

Additional Information:

(i) Fixed assets were purchased on 1st April, 2015.

(ii) Depreciation at 10% p.a. is to be charged on fixed assets on straight line method.

(iii) Closing inventory at branch is $ 700 as on 31-3-2019.

(iv) Goods received from Head Office (HO) were recorded at ` 1,85,500 in HO books.

(v) Remittances to HO were recorded at ` 1,62,000 in HO books.

(vi) HO account is recorded in HO books at ` 2,84,500.

Prepare the trial balance in accordance with AS-11.