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Accounting Records Of Independent Branch

1. For goods supplied by head office to branch:

Branch book:
Goods supplied by head office A/C.........Dr.
To Head office A/C
(Being receipt of goods)

Head office book:
Branch A/C..............Dr.
To goods supplied to branch A/C
(Being goods sent to branch)


2. For cash remitted by head office to branch:
Branch book:
Cash A/C..............Dr.
To head office A/C
( Being cash received)

Head office book:
Branch A/C .................Dr.
To cash A/C
(Being cash sent to branch)

3. For goods returned by branch:
Branch book:
Head office A/C............Dr.
To goods supplied to head office A/C
(Being goods return to head office)

Head office book:
Goods supplied from branch A/C............Dr.
To Branch A/C
(Being goods returned from branch)

4. For cash remitted by branch to head office:
Branch book:
Head office A/C.............Dr.
To cash
(Being cash sent to head office)

Head office book:
Cash A/C.................Dr.
To Branch A/C
(Being cash received from branch)

5. For assets purchased by branch on behalf of head office:
Branch book:
Head office A/C ..................Dr.
To cash A/C
(Being purchase of assets)

Head office book:
Branch assets A/C.............Dr.
To branch A/C
(Being assets purchased by branch)

6. For depreciation charged:
Branch book:
Depreciation A/C ...............Dr.
To Head office A/C
(Being depreciation on branch fixed assets)

Head Office book:
Branch A/C...................Dr.
To branch assets A/C
(Being depreciation of branch fixed assets)

7. For expenses incurred by head office
Branch book
Expenses A/C..............Dr.
To head office A/C
(Being expenses incurred by head office)

Head office book:
Branch A/C......................Dr.
To profit and loss A/C
(Being expenses incurred for branch)


1 comments:

rajeshkanna yadhavan said...

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Procedure to register a branch office

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