Branch accounting

It is an artificial personal account

Pratik Badade

CA Final

★ 2K+

13-May-22 09:03

Which golden rule will I have to apply here?

Thread Starter

MPR Sanjay Kumar

CA Inter

★ 530

13-May-22 09:04

So the rule of Debit the receiver and credit the giver applies

Pratik Badade

CA Final

★ 2K+

13-May-22 09:04

Yes okay friend .. personal account

Thread Starter

MPR Sanjay Kumar

CA Inter

★ 530

13-May-22 09:06

When branch receives goods, branch account is debited

Pratik Badade

CA Final

★ 2K+

13-May-22 09:07

Friend ..goods sent is shown in debit side ? To good sent to branch

Thread Starter

MPR Sanjay Kumar

CA Inter

★ 530

13-May-22 09:08

Whenever an item appears on the debit side of an account, it means that the account has been debited and vice versa

Pratik Badade

CA Final

★ 2K+

13-May-22 09:09

In this case the entry is Branch A/c. Dr. To Goods sent to branch A/c

Pratik Badade

CA Final

★ 2K+

13-May-22 09:10

Which means To is giving and By is paying?? Vice versa

Thread Starter

MPR Sanjay Kumar

CA Inter

★ 530

13-May-22 09:10

Yes you can say so. But for me this becomes a little confusing

Pratik Badade

CA Final

★ 2K+

13-May-22 09:12

Thanks ð??? for your reply friend

Thread Starter

MPR Sanjay Kumar

CA Inter

★ 530

13-May-22 09:12