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Accounting Records Of Independent Branch

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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


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2 comments:

  1. FOR AMOUNT RECIVED FROM BRANCH DEBTORS BOTH IN THE BOOK OF HO AS WELL AS BO

    ReplyDelete
  2. if the branch reported net loss when what entry in both books???

    ReplyDelete