From the following particular of Kolkatta Branch, prepare Branch Account and Branch Trading and Profit and Loss Account in the books of the H.O. for the year ended Mar 31, 2010:
On Apr 1, 2009 stock in trade at the branch, at selling price, amounted to Rs 1,45,980 and debtors to Rs 19,320.
During the year ended Mar 31, 2010, the following transactions took place at the branch:
|
Rs |
|
|
Goods received by Branch at Selling Price |
3,65,400 |
|
Cash Sales |
1,92,450 |
|
Credit Sales |
1,53,840 |
|
Goods returned to H.O. at Selling Price |
4,680 |
|
Reduction in Selling Price authorised by H.O. |
2,910 |
|
Cash received from Debtors |
1,27,980 |
|
Debtors written off as irrecoverable |
1,950 |
|
Cash Discounts allowed |
3,360 |
All purchases are made by H.O., goods for the branch delivered to it direct and charged out at selling price which is cost price plus 50%.
A consignment of goods despatched to branch in Mar 2010 at a selling price of Rs 3,600 was not received by the branch till Apr 9, 2010 and had not been included in the stock figure. The expenses relating to the branch for the year ended Mar 31, 2010 amounted to Rs 51,870. On Mar 31, 2010, physical stock at the branch, at selling price amounted to Rs 1,56,600.