give Journal Entries to close the books of the Ahmedabad branch. Show also the Madras Head Office Account in the branch books.
A Madras Head Office has an independent branch at Ahmedabad. From the following particulars, give
|
Particulars |
~. |
Particulars |
~. |
|
Stock on 1st January |
8,200 |
Creditors |
2,700 |
|
Purchases |
12,800 |
Sales |
34,950 |
|
Wages |
6,550 |
Head office |
14,000 |
|
Manufacturing expenses |
3,400 |
Discount |
150 |
|
Rent |
1,700 |
Purchase returns |
300 |
|
Salaries |
5,500 |
|
|
|
Debtors |
4,000 |
|
|
|
General expenses |
2,000 |
|
|
|
Goods received from Head Office |
7,200 |
|
|
|
Cash at bank |
750 |
|
|
|
|
52,100 |
|
52,100 |
(a) Closing stock at branch was ~ 14,350.
(b) The branch fixed assets maintained at H.O. books were: Machinery ~ 25,000, Furniture ~ 1,000.
(c) Rent due was ~ 150.
(d) A remittance of ~ 4,000 made by the branch on 28th December, 2014 was received by the Head Office on 4th January, 2015.
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