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
Provision for doubtful debts is made in conformity with ...
i) Stock of goods ii) Furniture iii)Creditors iv) Cash at bank v) Loan from the bank Find the...
Trading account for the year ended 31st December 2009 ₦ ₦ Opening...
Which of the following is not an externally visible part of a computer? ...
All cash transactions of a not-for-profit making organization are recorded in ...
The amount set aside out of profits to strengthen the financial position of the business is ...