ILLUSTRATION 6. Unique Shoe Stores has an old established branch at Kanpur. Goods are invoiced to the branch at 20% profit on invoice price; the branch having been instructed to send all cash daily to the Head Office. All expenses are paid by the Head Office except petty expenses which are met by the Branch manager. From the following particulars, you are required to draw up branch account as it would appear in the books of the Head Office, i.e., Unique Shoe Stores : Stock on January 1, 2011 Cash Sales 50,000 (invoice price) 15,000 Credit Sales 30,000 Sundry Debtors on January 1, 2011 9,000 Discount allowed 300 Cash in Hand on January 1, 2011 400 Expenses paid by Head Office : Office Furniture on January 1, 2011 1,200 Rent 1,200 Goods Supplied by the Head Office Salary 2,400 (Invoice price) 80,000 Stationery and Printing 300 Goods returned to Head Office 1,000 Petty Expenses paid by Branch Manager 280 Goods Returned by Debtors 480 Stock on 31-12-2011 (Invoice price) 14,000 Debtors at the end 8,220 Provide depreciation on furniture @ 10% p.a