Under debtors system which account is prepared by head office to calculate profit or loss of each branch:

Related MCQs

• Opening balance of debtors a/c is Rs 1,40,000. Credit sales is Rs 10,74,000 and closing balance of Debtors a/c is Rs 1,90,000. What is the amount of cash collection from the debtors?
• In final account system, Branch Trading and Profit & Loss A/c is prepared at ________
• The Branch Account prepared under Final Account System is the nature of:
• Branch Trading &Profit & Loss A/c is only a _________ account not forming part of the full accounting system.
• Branch Trading & Profit & Loss A/c is prepared to incorporate all _____
• Under Final A/c system, the profit or loss made by the branch is determined by preparing
• Provision for discount on debtors is calculated on the amount of debtors.
• If the opening balance of debtors is Rs 16,000 and closing balance is Rs 80,000, cash received from debtors is Rs 35,000 and bad debts is Rs 1,000, then what will be the amount of credit sales?
• Stock and debtors system is generally used when goods are sent to the branch at _____
• When Branch pays expenses for H.O. the following account is debited in the books of the branch _______