Advanced Accounting BA/B.Com Matric Spring Autumn 2023 Assignments
| Course Code | (444) |
| Course Title | Advanced Accounting |
| Level | BA/B.Com |
| Semester | Spring 2023 |
| Last Date To Submit | November 2023 |
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management of the Branch. Here, the Opening stock, Goods sent to the Branch, Goods returned by the Branch, and Closing stock will appear at invoice price only. The Head Office of a company invoices to its Coimbatore Branch at cost plus 20%. The Coimbatore Branch also purchases independently from local parties goods for which are payments by the Head Office. To find out the real profit, adjustment entries are to remove. The excess price or the difference between the invoice price and the cost price. Alternatively, Branch Account can be through the Double Column Method and if so, an adjustment entry. This we prove by solving a problem under both the methods.
Accounting (444) BA/B.Com Matric Spring
All the cash collected by the Branch is banked on the same day to the credit of the Head Office and all expenses are directly paid by the Head Office except for a petty cash account maintained by the Branch for which periodical transfers are made by the Head Office. Under the Debtors System, the profit or Joss can be found out by preparing a Branch Account in the books of Head Office. The Branch Account as a customer, a personal account with an impersonal name.
This type of accounting treatment works well in small Branches. When authorized to make credit sales also, the Debtors System proves inadequate. A detail of credit sales remains unaccounted for in this system. To overcome this, the Stock and Debtors System has been devised. Advanced Accounting BA/B.Com Matric Spring Autumn 2023 Assignments.