sabia (CWA Finals) (548 Points)
04 February 2012Dear Freinds ,
Pls help regarding how do we need to opening balance if question is written in this way ::
goods are invoiced to branch at cost plus 33.33%
opening stock at branch at cost to branch is 60000
Pls tell me wat will be amount for opening stock while making branch a/c.
is it 60000*25% = 15000+60000 = 75000 ???
Vikas
(CA)
(39 Points)
Replied 04 February 2012
No...... its like the branch a/c will show Cost+Profit fig so the 60000 (Since its cost to branch) is inclusive of profit..
so the cost of HO will be 60000-15000=45000
While i suppose br a/c must show 60000
sabia
(CWA Finals)
(548 Points)
Replied 05 February 2012
Dear Vikas,
thnx for ur reply .. but actualy m confused basicaly how i will understand whther loading is included in opening balance or not ????
sabia
(CWA Finals)
(548 Points)
Replied 05 February 2012
Dear Vikas,
thnx for ur reply .. but actualy m confused basicaly how i will understand whther loading is included in opening balance or not ????
CAclubindia
