Branch Accounts | Solution No - 29 | Inter-Branch Transactions | Financial Accounting | S.M.Shukla |

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102 بار بازدید - 7 ماه پیش - Branch Accounts | Practical Question
Branch Accounts | Practical Question and Solution No - 29 | Inter-Branch Transactions |
Special Journal Entries relating to Branch in Head Office Books | Financial Accounting | Dr.S.M.Shukla | Sahitya Bhawan Publication | B.COM | BBA | CMA | CA | CS |

Inter-Branch Transactions
Pass the necessary journal entries for the following in the Mumbai Head Office Books for the month of August 2020, assuming that only one journal entry is passed at the end of each month in order to adjust the inter-branch transactions:

(i) Chennai Branch: (a) Received goods of Rs. 25,000 from Delhi Branch and of Rs. 30,000 from Nagpur Branch.(b) Sent goods of  Rs. 15,000 to Nagpur Branch and of Rs. 30,000 to Delhi Branch.(c) Sent Bills Receivable of Rs. 2,000 to Delhi Branch and of Rs. 5,000 to Nagpur Branch. (d) Received Bills Receivable of Rs. 1,000 from Delhi Branch and of Rs. 2,500 from Nagpur Branch.

(ii) Delhi Branch:(a) Received Cash of  2,000 from Nagpur Branch.(b)Sent goods of 5,000 to Nagpur Branch
(c) Received goods of  4,000 from Nagpur Branch. (d) Sent goods of  1,000 to Chennai Branch.

(ii) Nagpur Branch: (a) Sent Bills Receivable of  3,000 to Delhi Branch. (b) Received goods of  2,000 from Delhi Branch. (c) Sent goods of  1,000 to Chennai Branch. (d) Received Bills Receivable of  2,000 from Chennai Branch.

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