BUY COURSES
APP 1FIN
Branch accounts
Can anyone explain the contra entry in this ??
Attachments
Screenshot_2020-09-14_075425.jpg
IMG_20200914_075525.jpg
anamika vardhan
CA Inter
★ 1K+
14-Sep-20 07:57
21
Answers (4)
Its a dummy entry assuming that HO sent cash to branch and branch incurred the expense. It can be ignored as well.
Suraj Lakhotia
Admin
14-Sep-20 17:09
If it is ignored won't the net profit in branch profit and loss account changed ??
14-Sep-20 18:27
Expense to profit & loss would be debited.
14-Sep-20 18:35
Thank you
14-Sep-20 18:40
964-011-1110 / 913-331-0549
964-011-1110
support@indigolearn.com