To account for expenses paid by head office on behalf of ...
To account for expenses paid by head office on behalf of the branch, the branch should___________
Debit profit and loss account and credit head office account
Debit head office account and credit cash
Credit cash and debit profit and loss account
Credit profit and loss account and debit head office account
Correct answer is A
The head office maintains a book, (branch account) more or less like other personal accounts, so that any expenses incurred on behalf of the branch will also be debited to the branch account. Similarly, in the branch books, there will be head office accounts
A crane hired by a building construction company would be classified as ...
Goods can be charged to branches using any of these pricing methods except ...
Which of the following is not an external user of accounting information? ...
Which of the following stock valuation method is suitable under inflationary conditions? ...