In case of inter-branch transactions, each branch

Related MCQs

• When branch A sent goods to branch B in the books of branch A debit is given to
• A company sends its cars to dealers on 'sale or return' basis. All such transactions ire however treated like actual sales and are passed through the sales day book. Just before the end of the financial year, two cars which had cost ` 55,000 each have been sent on sale or return and have been debited to customers at ` 75,000 each, cost of goods lying with the customers will be
• Goods sent by the head office to the branch but not received by the branch before the close of financial year are credited by head office to
• When a branch purchases fixed assets and the assets account is to be kept in the books of the head office, the branch makes the following entry
• Goods sent by branch X to branch Y will be debited to ______
• Under______ system branch profit or loss is ascertained by preparing branch accounts
• Goods sent by the Head Office to the branch but not received by the branch are termed as
• 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.
• _________ represents goods sent by head office to the branch or by the branch to the head office but not received by other
• A merchant sends out his goods casually to his dealers on approval basis. All such transactions are, however, recorded as actual sales and are passed through the sales book. On 31st March, it was found that 100 articles at a sale price of ` 200 each sent on approval basis were recorded as actual sales at that price. The sale price was made at cost plus 25%. The amount of stock on approval will be amounting