VRV Ltd. invoices goods to its branch at cost plus 33?%. From the following particulars prepare the Branch Account, Branch Stock Adjustment Account and Branch Profit and Loss Account as they would appear in the books of the H.O.
|
Rs |
|
|
Stock in Hand (opening) at the Branch |
75,000 |
|
Stock in Hand (closing) at the Branch |
60,000 |
|
Goods sent to Branch (including goods) |
5,00,000 |
|
Invoiced at Rs 10,000 to branch on Mar |
31, 2009 |
|
(Not received before the close of year) |
|
|
(It closed its books on Mar 31, 2009) |
|
|
Return of Goods to H.O. |
25,000 |
|
Credit Sales at Branch |
1,90,000 |
|
Invoice valued of goods pilfered |
5,000 |
|
Normal Loss at Branch due to Wastage and determination of Stock at Invoice Value |
7,500 |