Pass journal entries to rectify or adjust the following in the books of both the H.O. and the branch for the year ending on Mar 31, 2010:
- Goods costing Rs 12,000 purchased by the branch, but payment made by the H.O. The H.O. debited the amount to its own Purchases Account.
- Depreciation Rs 9,720 in respect of branch assets whose accounts are kept in H.O. books.
- Expenses Rs 22,500 to be charged to the branch for the work done on its behalf by the H.O.
- Goods sent by the H.O. to the branch, Rs 72,500, not yet received by the branch.
- A remittance of Rs 6,750 made by the branch to its H.O. not yet received by the H.O.
- The branch paid Rs 240 dividend to a local shareholder on behalf of the H.O.
- Depreciation @ 15% p.a. is to be provided on machinery at branch costing Rs 50,000, the account of which is maintained in the books of H.O.
- A sum of Rs 3,330 being arrears of call money from a shareholder was received by the branch in Mar but was not communicated to the H.O. till Apr 10.
- Goods worth Rs 60,000 have been supplied by the branch to another branch under the instructions from the H.O.
- Branch has received Rs 12,500 from a customer of H.O.