Branch accounts
This query is : Resolved
ritu018@gmail.com
(Querist)
30 October 2012
what will be d treatment of loss of goods in transit in branch as well as head office a/cts if head office sent goods to branch at 10% above cost? nd if there z a abnormal loss in branch where will it come, in trading a/c or P&L a/c?
CA GAGAN KHARBANDA
(Expert)
30 October 2012
As goods was damaged in the way to branch and branch not received the goods ...then it will not be accounted by branch...the loss will be booked by company itself under abnormal loss to branch opertions.
ritu018@gmail.com
(Querist)
05 November 2012
k. thnk u but what would be its entry?
11 November 2012
Send the intimation to the HO and the branch need book the goods as has been explained by the expert
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