QUESTION ONE The Mukund Gas Co., Varanasi have a sales branch at Ghaziabad and invoiced goods to the branch at cost price plus 33/3 per cent. It is arranged that all cash received by the branch is to be paid daily to the Head Office Account with the Banaras State Bank Ltd. and the necessary advice sent to the Head Office. From the following particulars, prepare Branch Account and Goods sent to Branch Account in the Head Office ledger showing the actual profit or loss of the branch for the year ending December 31. 1988. Rs. Rs. Stock on 1-1-1988 Rent. Rates nnd Taxes 3.200 (at invoice price) 12,000 Salaries and Wages 4,800 Goods Sent to Branch Debtors on 31-12-1988 1.600) (at invoice price) 96,000 Goods Returned to Debtors on 1-1-1988 1,500 Head Office Cash Sent to Head Office 77.100 (at invoice price) 16.000 Sales 77.000 Shortage of stock (at invoice price) 200) (10 Marks)