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
The financial plan of the government for a year is contained in the ...
Use the information to answer the given question. \(\begin{array}{c|c} & D\\ \text{Opening ...
Given: General expenses account. Paid by cheque..................N671 Paid by cash..................
Use the following to answer the given question \(\begin{array}{c|c} & N & & N \\ \h...
On partnership dissolution, if a partner's capital account has a debit balance and the partnr is...
The fixed amount of money given to a petty cashier at the beginning of a period is called? ...
Use the following information to answer the given question. \(\begin{array}{c|c} & ₦\\ \hli...
Payment is shown in the Balance Sheet as ...
Which of the following bases of accounting does not make allowance for depreciation? ...