The branch expenses paid by the head office is recorded i...
The branch expenses paid by the head office is recorded in the books by debiting branch?
Bad debt account and crediting branch debtor's account
Expenses account and crediting bank account
Profit and loss account and crediting branch stock account
Discount allowed account and crediting branch debtors' account
Correct answer is B
Branch current account; This account is maintained in the head office books to record all transactions between head office and branch. This account is debited with the following
From the above explanation, we would debit expenses account and crediting the bank account.
A partnership deed is used to____________ ...
UCHENNA ENTERPRISES: Balance sheet as at 31st December, 1993 \(\begin{array}{c|c} & N & N &a...
Which fund is used to meet unforeseen or urgent expenditure? ...
Cost of raw materials consumed 300,600 Carriage inwards 6,700 Returns of raw materials 10,800 Clo...
Given; Purchases = N20,000 Sales = N40,000 Carriage inwards = N5,000 Carriage outwards = N5,000 ...
Given: Direct material N2,500 Direct labour N5,000 Direct expenses N1,000 Overhead expenses N1,5...
A crane hired by a building construction company would be classified as ...
The type of stock recorded in the trading account of a manufacturing business is ...