Raj & Co had a branch at Delhi. Goods are invoiced to the branch at cost plus 25%. Branch is instructed to deposit cash every day in the H.O. account with the bank. All expenses are paid by cheques by the H.O. except petty cash expenses which are paid by the branch manager. From the following information prepare branch account in the books of H.O.:
|
Rs |
|
|
Stock on Jan 1, 2009 |
7,500 |
|
Stock on Dec 31, 2009 |
9,000 |
|
Sundry Debtors on Jan 1, 2009 |
4,200 |
|
Sundry Debtors on Dec 31, 2009 |
5,400 |
|
Cash Sales for the year 2009 |
32,400 |
|
Credit Sales for the year 2009 |
21,000 |
|
Cash remitted to the H.O. |
45,000 |
|
Furniture purchased by the Branch Manager |
3,600 |
|
Goods invoiced from the H.O. |
54,600 |
|
Expenses paid by the H.O. |
4,920 |
|
Expenses paid by the Branch |
360 |