Mrs. Shree opened a hosiery company, dealing in inner garments in Tiruppur, Tamil Nadu and has opened several branch shops at Chennai, Mumbai, Kolkatta and Delhi. All the purchasing and administration is done at Tiruppur Tamil Nadu H.O. only. Branches sell goods both for cash and on credit terms. The branches are expected to make a profit of 25% on cost price to H.O. The following information relates to Delhi Branch for the year ending on Mar 31, 2009.
|
Rs |
|
|
Opening Stock of Goods (at cost to H.O.) |
1,12,000 |
|
Opening Debtors |
40,000 |
|
Goods received by Branch at Selling Price |
7,50,000 |
|
Transfer from Chennai Branch at Selling Price |
30,000 |
|
Cash Sales |
7,10,000 |
|
Credit Sales |
1,50,000 |
|
Goods returned to Mumbai Branch at Selling Price |
30,000 |
|
Debtors at the End |
52,000 |
|
Bad Debts written off |
5,000 |
|
Goods returned by Credit Customers of |
3,000 |
|
Delhi Branch direct to Tiruppur H.O. |
|
|
Expenses at the Branch |
96,000 |
|
Normal Pilferage at Selling Price |
10,400 |
Additional Information
- Goods amounting to Rs 20,000 at cost of H.O. reached Delhi Branch on Apr 3, 2009.
- Delhi Branch had on Apr 1, 2008 laptop and other accessories at a book value of Rs 1,50,000. Depreciation at 10% p.a. is to be provided on this.
You are required to prepare
- Branch Stock Account
- Branch Debtors Account