The following data relate to Chennai branch for the year 2009:
|
Jan 1, 2009 Rs |
Dec 31, 2009 Rs |
|
|
Stock |
1,50,000 |
2,25,000 |
|
Debtors |
2,10,000 |
2,85,000 |
|
Petty Cash |
750 |
360 |
Goods costing Rs 16,50,000 were sold by the branch @ 25% on cost, cash sales amounted to Rs 4,50,000; and the rest-credit sales. Branch spent Rs 90,000 for salaries Rs 36,000 for rent and Rs 24,000 for petty expenses. All expenses were remitted by H.O. Branch received all goods from H.O. You are required to show Chennai Branch Account in the books of H.O. for the year 2009 and prove your answer by preparing a Branch Trading and Branch Profit and Loss Account.