Goods are supplied by the head office to dependent branches are at:

Related MCQs

• Under debtors system which account is prepared by head office to calculate profit or loss of each branch:
• Which of the following branches, taking into consideration the scope of authority and responsibility, prepares its own independent final accounts?
• The system of keeping accounts generally adopted by small size branches are:
• Mr. X sold goods to Mr. Y ask Mr. X to keep the goods with him for some time
• Goods sent by HO but not received by branch before the end of the year, by debiting it to goods in transit, which account should be credited?
• Dependent branch makes:
• Securities premium account is shown on the liabilities side of the balance sheet under the head:
• Value of goods withdrawn by the proprietor for his personal use should be credited to ____
• Goods are sent to branch at cost plus 20%. If closing stock of the branch is Rs 60,000 at invoice price, Rs ______ will be credited to stock reserve a/c.
• HO sends goods to branch at 20% profit on invoice price, therefore the percentage of profit on cost comes to ______