Treatment of branch transfer at the time of merger
This query is : Resolved
25 September 2013
dear sir,
i have a company which has 4 branches.if an inter branch transfer is made for sale and purchase of goods then while making a meger of all the branches for balance sheet purpose, do we need to deduct the amount of purchase and sale of inter branch goods from total purchase and sale.
If yes, then does it not affect our closing stock and opening stock of next year.
i have a company which has 4 branches.if an inter branch transfer is made for sale and purchase of goods then while making a meger of all the branches for balance sheet purpose, do we need to deduct the amount of purchase and sale of inter branch goods from total purchase and sale.
If yes, then does it not affect our closing stock and opening stock of next year.
05 October 2013
Yes you have to deduct purchase and sales and accordingly the stock of the branches to be included in the HO
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