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
How are credit sales by a department treated? ...
Trading account for the year ended 31st December 2009 ₦ ₦ Opening...
In the balance sheet, the subscription in arrears will be? ...
When goods are received from head office, head office will be credited while ...
Which of the following is not shown in the trial balance? ...
Which of the following is both a subsidiary book and a ledger? ...
The instrument used to release fund which the minister of finance has earlier withheld is ...