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Branch & head office

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(Querist)
26 February 2014 Head office is in Mumbai & branch is in Hyderabad.Prfit earned by Hyderabad branch in a particular accounting year is to be transferred to head office in the books. Than what accounting entry to be passed.
The situation is head office sells the goods to hyderabad branch at cost.And than hyderabad branch sells the goods After their profit margin .....so all the net profit the client want to appear in single account i.e in head office accounts .....
So can anyone suggest me the accounting entry to passed.
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Vishnu Saboo

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Vishnu Saboo (Expert)
28 February 2014 in branch books
P&L Dr
To HO
Profit of branch a/c being trf to HO
--------------------------------------
in HO Books
Branch Cr.
To P&L
Profit of branch being trf in HO books

in case of loss, reversal treatment of same
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