PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
Opening Balance at Branch: |
| Amounts remitted to the Branch for : |
|
- Petty Cash | 1,000 | - Petty Cash Expenses | 4,000 |
- Stock | 39,500 | - Salary | 12,000 |
- Debtors | 21,000 | - Rent and Taxes | 3,500 |
Goods Supplied to Branch during the year | 3,10,000 | Closing balances ay Branch: |
|
Amounts remitted by the branch |
| - Petty | 950 |
- Cash Sales | 1,13,200 | - Debtors | 53,000 |
- Realization from Debtors | 2,30,300 | - Stock | 26,500 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Balance b/d |
| By Bank (Remittance): |
|
Branch petty cash | 1,000 | - Petty Cash Expenses | 4,000 |
Branch Stock | 39,500 | - Salary | 12,000 |
Branch Debtors | 21,000 | - Rent and Taxes | 3,500 |
To Goods sent to Branch | 3,10,000 | Closing balance at Branch |
|
To cash remitted for: |
| - Petty Cash | 950 |
Petty Cash Expenses | 4,000 | - Debtors | 53,000 |
Salary | 12,000 | - Stock | 26,500 |
Rent | 3,500 |
|
|
To General P&L (Bal Fig) | 32,950 |
|
|
TOTAL | 4,23,950 | TOTAL | 4,23,950 |
BALANCES | OPENING | CLOSING |
Stock at invoice | 11,000 | 13,000 |
Debtors | 1,700 | 2,000 |
Petty Cash | 100 | 25 |
TOTAL | 12,800 | 15,025 |
PARTICULARS | AMOUNT | AMOUNT | PARTICULARS | AMOUNT | AMOUNT |
To Balance b/d |
|
| By Stock Reserve A/c b/d(Load on OP. Stock 11,000 X 25/125) |
| 2,200 |
Stock (IP) |
| 11,000 | By Bank |
|
|
Debtors |
| 1,700 | Cash Sales | 2,650 |
|
Petty Cash |
| 100 | Cash collected from Debtors | 21,000 | 23,650 |
To Goods sent to Branch (IP) |
| 20,000 | By Goods sent to branch (Returns at IP) |
| 400 |
To Bank (Expenses): |
|
| By Goods sent to branch (19,600 X 25/125; net Loading) |
| 3,920 |
Rent | 600 |
| By Balance c/d |
|
|
Wages | 200 |
| Stock (IP) | 13,000 |
|
Salaries | 900 | 1,700 | Debtors | 2,000 |
|
To Stock Reserve A/c c/d(Load on Cl. Stock 13,000 X 25/125) |
| 2,600 | Petty Cash | 25 | 15,025 |
To Net Profit tfd to general P&L (Bal Fig) |
| 8,095 |
|
|
|
TOTAL |
| 45,195 | TOTAL |
| 45,195 |
PARTICULARS | AMOUNT |
Goods sent to Branch at invoice Price | 2,11,872 |
Total Sales | 2,06,400 |
Cash Sales | 1,10,400 |
Cash received from Branch Debtors | 88,000 |
Branch Debtors at commencement | 24,000 |
Branch Stock at commencement at Invoice price | 7,680 |
Branch Stock at Close of the period at Invoice Price | 13,440 |
PARTICULARS | AMOUNT | AMOUNT | PARTICULARS | AMOUNT | AMOUNT |
To Balance b/d |
|
| By Stock Reserve A/c b/d(Load on OP. Stock) |
| 1,280 |
Stock (IP) |
| 7,680 | By Bank |
|
|
Debtors |
| 24,000 | Cash Sales | 1,10,400 |
|
To Goods sent to Branch (IP) |
| 2,11,872 | Cash collected from Debtors | 88,000 | 1,98,400 |
To Stock Reserve A/c c/d(Load on Cl. Stock) |
| 2,240 | By Goods sent to branch (2,11,872 X 20/120; net Loading) |
| 35,312 |
To Net Profit tfd to general P&L (Bal Fig) |
| 34,640 | By Balance c/d |
|
|
|
|
| Stock (IP) | 13,440 |
|
|
|
| Debtors | 32,000 | 45,440 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
| 2,80,432 | TOTAL |
| 2,80,432 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Balance b/d | 24,000 | By Cash | 88,000 |
To Credit Sales | 96,000 | By balance c/d (balancing figure) | 32,000 |
TOTAL | 1,20,000 | TOTAL | 1,20,000 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
Stock (Opening) | 21,000 | Discount to Customer | 4,200 |
Debtors (Opening) | 37,800 | Bad Debts | 1,800 |
Petty Cash(Opening) | 600 | Goods returned by customers to branch | 1,500 |
Goods sent to H.O. | 78,000 | Salaries | 18,600 |
Goods returned to H.O. | 3,000 | Rent | 3,600 |
Cash Sales | 52,500 | Debtors(Closing) | 29,400 |
Advertisement | 2,400 | Petty Cash (Closing) | 300 |
Cash received from debtors | 85,500 | Credit Sales | 85,200 |
Stock(Closing) | 19,500 |
|
|
Allowances to Customer | 600 |
|
|
|
|
|
|
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Balance b/d | 21,000 | By Branch Cash | 52,500 |
To Goods sent to send Branch | 78,000 | By Goods sent to Branch | 3,000 |
To Branch Debtors | 1,500 | By Branch Debtors | 85,200 |
To Branch P&L (Transfer) | 59,700 | By Balance c/d | 19,500 |
TOTAL | 1,60,200 | TOTAL | 1,60,200 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Balance b/d | 37,800 | By Branch Cash | 85,500 |
To Branch Stock (Credit Sales) | 85,200 | By Branch expenses Bad Debts 1,800 Allowances 600 Discount 4,200
| 6,600 |
|
| By Branch Stock (Returns) | 1,500 |
|
| By Balance c/d | 29,400 |
TOTAL | 1,23,000 | TOTAL | 1,23,000 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Branch Debtors | 6,600 | By Branch P&L | 31,500 |
To Bank Advertisement 2,400 Salaries 18,600 Rent 3,600 | 24,600 |
|
|
To Petty Expenses (600-300) | 300 |
|
|
|
|
|
|
TOTAL | 31,500 | TOTAL | 31,500 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Branch Expenses | 31,500 | By Branch Stock | 59,700 |
To General P&L (Bal Fig) | 28,200 |
|
|
TOTAL | 59,700 | TOTAL | 59,700 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
Opening stock | 6,000 | Salaries | 2,000 |
Opening Petty Cash | 500 | Rent | 1,500 |
Opening Debtors | 8,000 | Closing Stock | 8,000 |
Goods sent to Branch | 24,000 | Cash sent to Branch | 2,200 |
Goods returned by Branch | 800 | Discount Allowed | 100 |
Remittance from Branch | 33,500 | Bad Debts | 150 |
Returns from Debtors | 2,000 | Commission Paid | 750 |
Collection from Debtors | 34,000 | Closing Petty Cash | 450 |
Cash Sales | 1,500 | Closing Debtors | 9,000 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Balance b/d | 6,000 | By Branch Cash (Cash Sales) | 1,500 |
To Goods sent to send Branch | 24,000 | By Goods sent to Branch | 800 |
To Branch Debtors(Return Inwards) | 2,000 | By Branch Debtors(Credit Sales) | 37,250 |
To Branch P&L (Transfer) | 15,550 | By Balance c/d | 8,000 |
TOTAL | 47,550 | TOTAL | 47,550 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Balance b/d | 8,000 | By Branch Cash (Received from Debtors) | 34,000 |
To Branch Stock (Credit Sales) (Bal Fig) | 37,250 | Branch expenses Bad Debts 150 Discount 100 | 250 |
|
| By Branch Stock (Returns) | 2,000 |
|
| By Balance c/d | 9,000 |
TOTAL | 45,250 | TOTAL | 45,250 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Balance (Petty Cash) | 500 | By Branch Expenses Salaries 2,000 Rent 1,500 Commission 750 | 4,250 |
To Bank (Remittance) | 2,200 | By Bank (Remittance from Branch) | 33,500 |
To Branch stock (Cash Sales) | 1,500 | By Balance (Petty Cash) | 450 |
To Branch Debtors (Received) | 34,000 |
|
|
|
|
|
|
TOTAL | 38,200 | TOTAL | 38,200 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Branch Debtors | 6,600 | By Branch P&L | 31,500 |
To Bank Advertisement 2,400 Salaries 18,600 Rent 3,600
| 24,600 |
|
|
To Petty Expenses (600-300) | 300 |
|
|
|
|
|
|
TOTAL | 31,500 | TOTAL | 31,500 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Branch Debtors | 250 | By Branch P&L (Balance Transferred) | 4,500 |
To Branch Cash | 4,250 |
|
|
|
|
|
|
|
|
|
|
TOTAL | 4,500 | TOTAL | 4,500 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Branch Stock | 800 | By Branch Stock | 24,000 |
To Purchase | 23,200 |
|
|
|
|
|
|
|
|
|
|
TOTAL | 24,000 | TOTAL | 24,000 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Branch Expenses | 4,500 | By Branch Stock (Gross Profit) | 15,550 |
To General P&L (Bal Fig) | 11,050 |
|
|
TOTAL | 15,550 | TOTAL | 15,550 |
PARTICULARS | AMOUNT |
Stock on the 1st April,2013 (Invoice Price) | 93,000 |
Debtors on 1st April,2013 | 68,000 |
Goods Invoiced to Branch (Cost) | 3,40,000 |
Sales at Branch: |
|
Cash | 2,50,100 |
Credit | 3,10,000 |
Cash Collected from Debtors | 3,04,000 |
Goods Returned by Debtors | 12,000 |
Goods Returned by Branch to head office | 1,500 |
Shortage of Stock | 4,500 |
Discount Allowed to Customer | 2,000 |
Expenses at Branch | 54,000 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Balance b/d | 93,000 | By Branch Cash (Cash Sales) | 2,50,100 |
To Goods sent to send Branch (3,40,000 X 150%) | 5,10,000 | By Branch Debtors(Credit Sales) | 3,10,000 |
To Branch Debtors | 12,000 | By Goods sent to Branch | 1,500 |
|
| By Branch Adjustment (Shortage) | 4,500 |
|
| By Balance c/d | 48,900 |
TOTAL | 6,15,000 | TOTAL | 6,15,000 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Branch Stock(Shortage) | 4,500 | By Stock Reserve(Loading on Opening Stock) | 31,000 |
To Goods Sent to Branch | 500 | By Goods Sent to Branch | 1,70,000 |
To Gross Profit c/d | 1,79,700 |
|
|
To Stock Reserve(Loading on Closing Stock) | 16,300 |
|
|
TOTAL | 2,01,000 | TOTAL | 2,01,000 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Branch Expenses | 54,000 | By Branch Stock (Gross Profit) | 1,79,700 |
To Discount | 2,000 |
|
|
To General P&L (Bal Fig) | 1,23,700 |
|
|
TOTAL | 1,79,700 | TOTAL | 1,79,700 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Branch Stock | 1,500 | By Branch Stock | 5,10,000 |
To Branch Adjustment | 1,70,000 | By Branch Adjustment | 500 |
To Trading A/c(Bal Fig) | 3,39,000 |
|
|
|
|
|
|
TOTAL | 5,10,500 | TOTAL | 5,10,500 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Balance b/d | 68,000 | By Branch Cash (Received from Debtors) | 3,04,000 |
|
| By Branch expenses (Discount) | 2,000 |
To Branch Stock (Credit Sales) | 3,10,000 | By Branch Stock (Returns) | 12,000 |
|
| By Balance c/d | 60,000 |
TOTAL | 3,78,000 | TOTAL | 3,78,000 |
PARTICULARS | AMOUNT | PARTICULARS | AMOUNT |
To Sales | 2,50,100 | By Head Office Cash | 5,54,100 |
To Debtors | 3,04,000 | (Sent to HO) |
|
TOTAL | 5,54,100 | TOTAL | 5,54,100 |
Q7) A Ltd. has a branch in Calcutta. Goods are invoiced at cost plus 25%. | |
Opening Balance | 2002 |
Stock | 3,200 |
Debtors | 1,300 |
Goods sent to Branch (Invoice price) | 75,000 |
Sales at Calcutta |
|
Cash Sales | 32,000 |
Credit Sales | 38,000 |
Cash collected from Debtors | 33,400 |
Discount allowed | 400 |
Bad Debts written off | 250 |
Cash sent to Branch for expenses | 5,500 |
Stock at end | 7,900 |
BRANCH STOCK A/C | |||
To Balance b/d | 3,200 | To Cash Sales | 32,000 |
To Goods Sent to Branch A/c |
| By Branch Debtors | 38,000 |
| 75,000 | By Branch Adjustment A/c | 300 |
|
| By Balance c/d | 7,900 |
| 78,200 |
| 78,200 |
GOODS SENT TO BRANCH A/C | |||
To br. Adjustment A/c (loading) | 15,000 | By Br. Stock A/c | 75,000 |
To Trading A/c (Transfer) | 60,000 |
|
|
| 75,000 |
| 75,000 |
To Br. Adjustment A/c | 640 | By Balance b/d | 640 | |||
To balance c/d | 1,580 | By Branch Adj. A/c | 1,580 | |||
| 2,220 |
| 2,220 | |||
BRANCH DEBTORS A/C | ||||||
To Balance b/d | 1,300 | By Cash | 33,400 | |||
To Branch Stock (Cr. Sales) | 38,000 | By Branch Exp. A/c |
| |||
|
| Discount | 400 |
| ||
|
| Bad Debts | 250 | 650 | ||
|
| By Bal. c/d | 5,250 | |||
| 39,300 |
| 39,300 | |||
BRANCH ADJUSTMENT A/C | ||||||
To Branch Stock Reserve |
|
| ||||
(closing stock) A/c | 1,580 | By Stock Reserve (opening stock) | 640 | |||
To br. Stock A/c (shortage) | 300 |
|
| |||
To Br. Exp. A/c | 7,150 | By Goods sent to br. A/c | 15,000 | |||
To P & L A/c | 6,610 |
|
| |||
| 15,640 |
| 15,640 | |||
BRANCH EXPENSES A/C | ||||||
To Cash | 6,500 | By Branch Adjustment A/c | 7,150 | |||
To branch Dr.s A/c |
|
|
| |||
| Discount | 400 |
|
|
| |
| Bad Debts | 250 | 650 |
|
| |
| 7,150 |
| 7,150 | |||