Head office sends goods to the branch at 25% less than the list price. Goods are sold to customers at cost plus 60% .

Cash in transit and Goods in transit are treated as

Analytical Method

Depreciation of fixed asset is not shown in branch account but the closing balance is shown in credit side of branch a/c

Branch accounting is mainly concerned with

A branch that maintains its own complete set of books is called

Goods sent by Head Office to branch at cost price are recorded in the branch account at:

If goods are invoiced at 25% above cost, loading is

Independent branch prepares its own

Branch adjustment account is prepared to

When branch goods are sold on credit, the account affected is

Which of the following is NOT a feature of dependent branch?

Under stock and debtors system, branch debtors account is maintained at:

The profit of a dependent branch is ascertained by

Branch expenses paid by head office are debited to

Goods returned by branch to head office are credited to

Branch accounting under the debtor system is suitable for

Which account is used to eliminate loading on unsold stock?

Branch account balance 450000 head office a/c balance 375000 Goods in transit 25000 calculate cash in transit

The branch account in head office books is real account.

When goods are sent to branch head office debits the branch a/c

Branch a/c in head office books reflects the financial position of the branch

Imprest system is where petty expenses of branch is not reimbursed by head office