Prepare a branch account, from the following data:
|
Rs |
|
|
Opening Stock at the Branch |
75,000 |
|
Goods sent to Branch |
2,25,000 |
|
Expenses: |
|
|
Salaries |
25,000 |
|
Rent |
8,000 |
|
Other Expenses |
1,880 |
|
Sales (cash) |
3,00,000 |
Closing stock could not be ascertained but it is known that the branch usually sells goods at cost plus 20%. The branch manager is entitled to commission of 5% of profit of branch after charging such commission.