AFA_Lec_16 - AdvancedFinancial Accounting FIN611...

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    Advanced Financial  Accounting FIN-611   Mian Ahmad Farhan  Lecture-16 Branch Accounting (Whole sale  branch) 
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         Question & Solution    in Word Format  
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    Reconciliation  Branch Book  Goods in transit A/c  3,700 Head office A/c 3,700  
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    Murree Branch A/c  Balance b/f  460 Balance c/f 460
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    Head Office A/c Balance b/f  Balance c/f  3,240 460 Goods in  transit 3,700 3,700 3,700
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    Additional Information  Advertisement expenses allocated by HO Rs. 1,000 Depreciation charged by HO on branch equipments @10%  using straight line method.  
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    Journal Entry  Advertisement A/c 1,000 Head office A/c 1,000 Head office  Branch  Branch A/c 1,000 Advertisement A/c 1,000  Branch A/c 500          Provision for dep. A/c 500 Provision for dep. A/c 500 Head office A/c 500
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    Murree Branch A/c  Balance b/f  Advertisement Depreciation Exp.   460 1,000 500 Balance c/f 1,960 1,960 1,960
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    Head Office A/c Balance c/f  1,960 Balance b/f Advertisement  Depreciation Exp.  460 1,000 500 1,960 1,960
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