Q2. Jenny Traders, Boston, have a branch at Oklahoma From the following particulars relating to the branch for the year ending 31-3-2015, prepare Branch Account in the head office books: $ $ Balances on 1-4-2014: Discount allowed to debtors 100 Stock at Branch 10,000 Cash sent to Branch for Branch Debtors 4,000 Rent 2,100 Petty Cash 500 Salaries ( $200 p.m.) 2,400 Furniture 2,000 Petty Cash 1,000 Prepaid Insurance 150 Insurance (Annual upto 30-6-2015) 600 Salaries Outstanding 200 Goods returned by branch 1,000 Goods sent to branch during the year 80,000 Goods returned by debtors 2,000 Cash sales during the year 1,30,000 Stock on 31-3-2015 5,000 Credit sales during the year 40,000 Petty expenses paid by branch 690 Cash received from debtors 35,000 Sale of furniture on 1-10-2014 (book Cash paid by debtors direct to value of furniture on 1-10-2014 head office 2,000 475) 400 Provide depreciation on furniture @ 10% p.a. Goods costing $ 2,500 were damaged in transit and a sum of $ 2,000 was recoverable from the insurance company in full settlement of the claim. The branch manager is entitled to a commission of 10% of profit of branch after charging such commission. was