Journal entry
This query is : Resolved
Mohd. Arshad
(Querist)
27 August 2011
What would be the journal entries in the books of branch as well as head office in case payment to the vendor of the branch is made by head office.
CMA Ramesh Krishnan
(Expert)
27 August 2011
In head office books (Payment entry)
Dr:Branch account
Cr:Bank a/c
(payment made to Vendor______ through Chq no_____ for branch)
In branch books (Journal Entry)
Dr: Vendor a/c
Cr: Head office a/c
(Payment made by HO through chq no______)
Dr:Branch account
Cr:Bank a/c
(payment made to Vendor______ through Chq no_____ for branch)
In branch books (Journal Entry)
Dr: Vendor a/c
Cr: Head office a/c
(Payment made by HO through chq no______)
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Mohd. Arshad
(Querist)
27 August 2011
Thank You Sir for your prompt response
Message likes :
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