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.
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Net profit of a sole proprietor is transferred to the ...
Rent prepaid as at 1st January, 2002 was N15,000. How much was paid for rent in 2007? ...
Interest on partners drawings are debited in the ...