In the head office ledger, the value of goods sent to the...
In the head office ledger, the value of goods sent to the branch are____________
Debited to the branch current account
Debited to the head office current account
Credited to the head office current account
Credited to the branch current account
Correct answer is B
Branch current account is maintained in the head office books to record all transactions between the head office and the branch. This account is debited with the following:
i. Goods sent to branch
ii. Expenses of the branch paid by the head office
iii. Profit of the branch
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