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From the following information, find the branch profit or loss of the branch: PARTICULARSs AMOUNT Opening stock 30000 Goods sent to branch 90000 Sales 120000 Expenses: Salaries 10000 Other expenses 4000 The closing stock could not be ascertained, but it is to be known that the branch usually sells at cost plus 20%. The branch manager is entitled to a commission of 5% on the profit of the branch before charging such commission. The branch loss or profit transferred to P & LA/c will be? Rs. 6700 Rs. 6500 Rs. 5600 Rs. 5700

From the following information, find the branch profit or loss of the branch: PARTICULARSs AMOUNT Opening stock 30000 Goods sent to branch 90000 Sales 120000 Expenses: Salaries 10000 Other expenses 4000 The closing stock could not be ascertained, but it is to be known that the branch usually sells at cost plus 20%. The branch manager is entitled to a commission of 5% on the profit of the branch before charging such commission. The branch loss or profit transferred to P & LA/c will be? Rs. 6700 Rs. 6500 Rs. 5600 Rs. 5700

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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From the following information, find the branch profit or loss of the branch: PARTICULARS AMOUNT Opening stock 30000 Goods sent to branch 90000 Sales 120000 Expenses: Salaries 10000 Other expenses 4000 The closing stock could not be ascertained, but it is to be known that the branch usually sells at cost plus 20%. The branch manager is entitled to a commission of 5% on the profit of the branch before charging such commission. The branch loss or profit transferred to P & LA/c will be? Rs. 6700 Rs. 6500 Rs. 5600 Rs. 5700
Transcribed Image Text:From the following information, find the branch profit or loss of the branch: PARTICULARS AMOUNT Opening stock 30000 Goods sent to branch 90000 Sales 120000 Expenses: Salaries 10000 Other expenses 4000 The closing stock could not be ascertained, but it is to be known that the branch usually sells at cost plus 20%. The branch manager is entitled to a commission of 5% on the profit of the branch before charging such commission. The branch loss or profit transferred to P & LA/c will be? Rs. 6700 Rs. 6500 Rs. 5600 Rs. 5700
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