Hi,
Can anyone tell me, What will be entry for 'Pruchase of an asset' by a branch. Both in the books of Branch and H.O. also Both Independent branch and Dependent branch?
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Accounting Entry
Replies (4)
| Originally posted by : Bijoy | ||
 |
Hi, Can anyone tell me, What will be entry for 'Pruchase of an asset' by a branch. Both in the books of Branch and H.O. also Both Independent branch and Dependent branch? |
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At Branch Office :
Dr Head Office A/c
Cr Cash / Bank A/c
At Head Office :
Dr Fixed Assets A/c
Cr Branch Office A/c
Agreed.
IN THE BOOKS OF BRANCH
FIXED ASSETS –DR
TO CASH]BANK
ON BOOK CLOSING AT YEAR END
HEAD OFFICE –DR
TO FIXED ASSETS
IN THE BOOKS OF HEAD OFFICE
FIXED ASSET---DR
TO BRANCH
agreed with all........
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