ILLUSTRATION 15.1. 29: A company with its head office at Mumbai has a branch at Allahabad. Goods are invoiced to wine branch at cost plus 33% which is the selling price. Following information is given in respect of the branch for the year ended 31st March, 2012: Goods sent to Branch Discount allowed 1,000 (Invoice Price) 4,80,000 Bad Debts 1,500 Stock at Branch at Stock at Branch Invoice Price (1-4-2011) 24,000 at Invoice Price (31-3-2012) 48,000 Cash Sales 1,80,000 Branch Debtors' Returns from Customers 60,000 balance at 31-3-2012 36,500 Branch Expenses paid in cash 53,500 Collection from Debtors 2,70,000 Branch Debtors' Branch Debtor's cheque balance (1-4-2011) 30,000 returned dishonoured 5,000 You are required to prepare Branch Stock Account, Branch Debtors Account, Branch Adjustment Account & Branch Profit & Loss A/c to reveal net profit of the branch for the year 2011-12