To Discount earned) By Purchases 48,000 To Balance c/d 26.800 88,000 88,000 By Balance b/d 26,800 Illustration 17 The following Trial balances as at 31st December, 2012 have been extracted from the books of Major Ltd. and its branch at a stage where the only adjustments requiring to be made prior to the preparation of a Balance Sheet for the undertaking as a whole. Head Office Branch Dr. Dr Cr Cr. 59 7 1,50.000 Share Capital Fixed Assets Current Assets 75.125 1.21.809 18.901 23,715 (Note 3) 34.567 9.721 Current Liabilities Stock Reserve, 1st Jan, 2012 (Note 2) Revenue Account Branch Account Head Office Account 693 43,210 10,250 31.536 22.645 42,616 2,28,470 2,28,470 42,616 Notes: 1. Goods transferred from Head Office to the Branch are invoiced at cost plus 10% and both Revenue Accounts have been prepared on the basis of the prices charged. 2. Relating to the Head Office goods held by the Branch on 1st January, 2012. 3. Includes goods received from Head Office at invoice price 4,565. 4. Goods invoiced by Head Office to Branch at 73,641 were in transit at 31st December 2012, as was also a remittance of 73,500 from the Branch. 5. At 31st December, 2012, the following transactions were reflected in the Head Office books but unrecorded in the Branch books. The purchase price of lorry, 72,500, which reached the Branch on December 25th; a sum received on December 30, 2012 from one of the Branch debtors, 750. You are required: () to record the foregoing in the appropriate ledger accounts in both sets of books; (i) to prepare a Balance Sheet as at 31st December, 2012 for the undertaking as a whole