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anamika vardhan

anamika vardhan

CA Inter

880

14-Sep-20 07:57

19

Branch accounts

Can anyone explain the contra entry in this ??

Attachments

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Answers (4)

Suraj Lakhotia

Suraj Lakhotia

Admin

14-Sep-20 17:09

Its a dummy entry assuming that HO sent cash to branch and branch incurred the expense. It can be ignored as well.

anamika vardhan

anamika vardhan

CA Inter

880

14-Sep-20 18:27

Suraj Lakhotia

Suraj Lakhotia

Admin

14-Sep-20 17:09


Its a dummy entry assuming that HO sent cash to branch and branch incurred the expense. It can be ignored as well.

If it is ignored won't the net profit in branch profit and loss account changed ??

Suraj Lakhotia

Suraj Lakhotia

Admin

14-Sep-20 18:35

Expense to profit & loss would be debited.

anamika vardhan

anamika vardhan

CA Inter

880

14-Sep-20 18:40

Suraj Lakhotia

Suraj Lakhotia

Admin

14-Sep-20 18:35


Expense to profit & loss would be debited.

Thank you