Gain & Co. had a branch at Tiruchirapalli. You are required to prepare branch account in the books of Gani & Co. to ascertain profit made at Tiruchirapalli branch. Transactions during the year ending Mar 31, 2009 were as follows:
|
Rs |
As |
||
|
Stock at Cost on Apr 1, 2008 |
4,000 |
Stock on Mar 31, 2009 with Branch |
3,500 |
|
Furniture on Apr 1, 2008 |
2,000 |
Expenses paid by H.O. |
5,300 |
|
Goods sent to Branch at Cost |
65,000 |
Goods returned by Branch |
5,000 |
|
Cash Sales made by Branch |
90.500 |
Expenses still Outstanding at End |
500 |
|
Furniture purchased by the Branch with permission from the H.O. |
1.200 |
It was required to write off furniture @ 10% p.a. No depreciation is provided on additions during the year.