Accounts required and their purpose-branches, Financial Accounting

Assignment Help:

Accounts required and their purpose

a. Branch Current Account (Head Office Books)

Records all transactions branch and head office;
The balance represents the investment made by head office in the branch.

b. Head office Current Account (Branch Books)

Records all transactions between branch and head office;
The balance represents the branch’s capital;
Profit and loss account balance must be transfeeed to this account at the end of the period.

c. Final accounts

Examination questions
Trading Account
Trading Account – branch column records
Trading Account – combined column records
Profit and loss account
Balance Sheet
The provision for unrealized profit
The ‘combined’ column in the trading and profit and loss account

Related Discussions:- Accounts required and their purpose-branches

Accounting and finance, I want you guys to make my assignment of 2500 words...

I want you guys to make my assignment of 2500 words please let me know the price and I din''t have time I want it by tomorrow

Fund flow, Fund flow Math problem and solution.

Fund flow Math problem and solution.

Assignment, 1- Journalize May transactions. Entry: 1. May 1 Owner H.Hadi...

1- Journalize May transactions. Entry: 1. May 1 Owner H.Hadi invested $40,000 in the business. 2. May 4 Equipment was purchased at a cost of $7,000; a three-month, 10% note pa

Evlaute expected value of sales volume, Q. Evlaute Expected value of sales ...

Q. Evlaute Expected value of sales volume? (17500 × 0·3) + (20000 × 0·6) + (22500 × 0·1) = 19500 units Expected NPV = (((19500 × 1·35) - 10000) × 3·605) - 50000 = $8852 W

Which depreciation method would produce the higher npv, Wendy is evaluating...

Wendy is evaluating a capital budgeting project that should last for 4 years. The project requires $ 800,000 of equipment. She is unsure what depreciation method to use in her anal

T-accounts, HELP!!

HELP!!

ACCOUNTING, Ask questiThe pre - closing general ledger trial balances at De...

Ask questiThe pre - closing general ledger trial balances at December 31,2019, for Baltimore company and its Atlanta tranche are shown belowon #Minimum 100 words accepted#

Assets, tyoes of assets

tyoes of assets

Primary business activities - capital resources, Create a description of yo...

Create a description of your company and its primary business activities. Include: a) A brief historical summary b) The lines of business the firm is engaged in (Is the compa

Maturity risk premiums , Suppose that the real risk-free rate, r*, is 4% an...

Suppose that the real risk-free rate, r*, is 4% and that inflation is usual to be 8% in Year 1, 5% in Year 2, and 4% thereafter. Suppose also that all Treasury securities are highl

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages