Accounting Entry

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?

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........