1.

Salt Lake Ltd. Kolkata invoice goods to its branch at Delhi at a profit at 25% on cost. Prepare Branch Stock Account under (i) Single Column and (ii) Double Column from the following particulars: ParticularsAmountParticularsAmountOpening Stock (Invoice Price)20,000Normal Loss (Invoice Price)1,000Goods sent to Branch (Invoice Price)1,20,000Pilferage of Stock (Invoice Price)2,000Goods return to H.O. (Invoice Price)5,000Cash Sales97,000Goods lost in transit (Invoice Price)5,000Closing Stock (Invoice Price)30,000

Answer»

(i) Under Single column In the Books of H. O. Delhi Branch Stock Account 

ParticularsAmountParticularsAmount
To Balance b/d20,000By Branch Cash A/c
To Goods sent to branch1,20,000Case Sales97,000
By Goods sent to branch (Return)5,000
By Loss-in-transit5,000
By Normal Loss1,000
By Pilferage of Stock2,000
By Balance c/d30,000
1,40,0001,40,000

(ii) Under Double Column In the Books of H. O. Delhi Branch Stock Accoun

ParticularsInvoice PriceCost PriceParticularsInvoice PriceCost Price 
To Balance b/d20,00016,000By Branch Cash A/c
To Goods sent to branch1,20,00096,000Cash Sales97,00097,000
To Gross Profit--19,400By Goods sent to branch (Return)5,0004,000
By Loss - in- transit5,0004,000
By Normal Loss1,000800
By Pilferage of Stock 2,0001 600
By Balance c/d30,00024,000
1,40,0001,31,4001,40,0001,31,400


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