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Prepare a branch account for 6 month Stock 1 oct 840 Debtors 1oct 1345 Goods from head office 2276 Wages 415 Rent 402 Cash sales 1460 Cash received from debtors 2387 Stock on 31 march 1280 Sales return 30 Bad debt 65?
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Prepare a branch account for 6 month Stock 1 oct 840 Debtors 1oct 1345...
Branch Account for 6 Months
Introduction:
In this question, we need to prepare a branch account for 6 months based on the given information.
Opening Balances:
Stock as on 1st Oct = 840
Debtors as on 1st Oct = 1345
Goods from Head Office = 2276
Expenses:
Wages = 415
Rent = 402
Sales:
Cash Sales = 1460
Cash Received:
Cash Received from Debtors = 2387
Closing Balances:
Stock as on 31st March = 1280
Adjustments:
Sales Return = 30
Bad Debt = 65
Calculation:
1. Calculate the total sales by adding Cash Sales and Cash Received from Debtors.
2. Calculate the total expenses by adding Wages and Rent.
3. Calculate the cost of goods sold by subtracting the closing stock from the opening stock and adding the goods received from Head Office.
4. Calculate the gross profit by subtracting the cost of goods sold from the total sales.
5. Deduct the expenses from the gross profit to arrive at the net profit.
6. Adjust the net profit by deducting Sales Return and Bad Debt.
Final Account:
Branch Account for 6 Months
Particulars Amount (Rs.)
Opening Stock 840
Debtors 1345
Goods from Head Office 2276
Total 4461
Less: Closing Stock (1280)
Cost of Goods Sold 3181
Add: Gross Profit (Sales - Cost of Goods Sold) 706
Total Sales (Cash Sales + Cash Received from Debtors) 3847
Less: Expenses (Wages + Rent) (817)
Net Profit 471
Less: Adjustments (Sales Return + Bad Debt) (95)
Final Net Profit 376
Conclusion:
In conclusion, the branch account for 6 months has been prepared based on the given information. The net profit earned by the branch is Rs. 376.
Introduction:
In this question, we need to prepare a branch account for 6 months based on the given information.
Opening Balances:
Stock as on 1st Oct = 840
Debtors as on 1st Oct = 1345
Goods from Head Office = 2276
Expenses:
Wages = 415
Rent = 402
Sales:
Cash Sales = 1460
Cash Received:
Cash Received from Debtors = 2387
Closing Balances:
Stock as on 31st March = 1280
Adjustments:
Sales Return = 30
Bad Debt = 65
Calculation:
1. Calculate the total sales by adding Cash Sales and Cash Received from Debtors.
2. Calculate the total expenses by adding Wages and Rent.
3. Calculate the cost of goods sold by subtracting the closing stock from the opening stock and adding the goods received from Head Office.
4. Calculate the gross profit by subtracting the cost of goods sold from the total sales.
5. Deduct the expenses from the gross profit to arrive at the net profit.
6. Adjust the net profit by deducting Sales Return and Bad Debt.
Final Account:
Branch Account for 6 Months
Particulars Amount (Rs.)
Opening Stock 840
Debtors 1345
Goods from Head Office 2276
Total 4461
Less: Closing Stock (1280)
Cost of Goods Sold 3181
Add: Gross Profit (Sales - Cost of Goods Sold) 706
Total Sales (Cash Sales + Cash Received from Debtors) 3847
Less: Expenses (Wages + Rent) (817)
Net Profit 471
Less: Adjustments (Sales Return + Bad Debt) (95)
Final Net Profit 376
Conclusion:
In conclusion, the branch account for 6 months has been prepared based on the given information. The net profit earned by the branch is Rs. 376.
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Prepare a branch account for 6 month Stock 1 oct 840 Debtors 1oct 1345...
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Prepare a branch account for 6 month Stock 1 oct 840 Debtors 1oct 1345 Goods from head office 2276 Wages 415 Rent 402 Cash sales 1460 Cash received from debtors 2387 Stock on 31 march 1280 Sales return 30 Bad debt 65?
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Prepare a branch account for 6 month Stock 1 oct 840 Debtors 1oct 1345 Goods from head office 2276 Wages 415 Rent 402 Cash sales 1460 Cash received from debtors 2387 Stock on 31 march 1280 Sales return 30 Bad debt 65? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Prepare a branch account for 6 month Stock 1 oct 840 Debtors 1oct 1345 Goods from head office 2276 Wages 415 Rent 402 Cash sales 1460 Cash received from debtors 2387 Stock on 31 march 1280 Sales return 30 Bad debt 65? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Prepare a branch account for 6 month Stock 1 oct 840 Debtors 1oct 1345 Goods from head office 2276 Wages 415 Rent 402 Cash sales 1460 Cash received from debtors 2387 Stock on 31 march 1280 Sales return 30 Bad debt 65?.
Prepare a branch account for 6 month Stock 1 oct 840 Debtors 1oct 1345 Goods from head office 2276 Wages 415 Rent 402 Cash sales 1460 Cash received from debtors 2387 Stock on 31 march 1280 Sales return 30 Bad debt 65? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Prepare a branch account for 6 month Stock 1 oct 840 Debtors 1oct 1345 Goods from head office 2276 Wages 415 Rent 402 Cash sales 1460 Cash received from debtors 2387 Stock on 31 march 1280 Sales return 30 Bad debt 65? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Prepare a branch account for 6 month Stock 1 oct 840 Debtors 1oct 1345 Goods from head office 2276 Wages 415 Rent 402 Cash sales 1460 Cash received from debtors 2387 Stock on 31 march 1280 Sales return 30 Bad debt 65?.
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