assess two accounting books
1.head office 2.branch office
branch office rental income show in head office accounting entry passed.
question:
how to accounting entry passed branch office rental income transfer to head office in both books.
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Accounting entry passed for head office and branch office
Replies (12)
In the books of Branch
when rent received
Bank A/c Dr
To Rental received A/c Cr
( Being rent received )
received rent transfer to Head office
Head office A/c Dr
To Bank A/c Cr
( rent transfer to H.O )
In the books of Head office
Bank A/c Dr
To Branch office A/c Cr
( rental income received from Branch )
when rent received
Bank A/c Dr
To Rental received A/c Cr
( Being rent received )
received rent transfer to Head office
Head office A/c Dr
To Bank A/c Cr
( rent transfer to H.O )
In the books of Head office
Bank A/c Dr
To Branch office A/c Cr
( rental income received from Branch )
Agree with above entries
I do not agree with above entries. There cannot be any entries of nomenclature "rental received"
Other entries check and revert back.
Other entries check and revert back.
@ Sabyasachi Mukherjee
If you are not agree with above entries please post here correct entries . Any income received at branch can be transferred to H.O . please post here correct entries , what you think .
If you are not agree with above entries please post here correct entries . Any income received at branch can be transferred to H.O . please post here correct entries , what you think .
In Branch books
Bank Account DR
To HO account
In HO Books
Branch Dr
To Rental Income.
Bank Account DR
To HO account
In HO Books
Branch Dr
To Rental Income.
Yes it can be transfered to ho but not the way you hv shown.
First book income in the books of the recipient where income arises. Dr. Bank account Dr. to sale on goods cr.
now if you want to transfer the Income to hold
cr. branch office in the books of how
Dr. ho.
First book income in the books of the recipient where income arises. Dr. Bank account Dr. to sale on goods cr.
now if you want to transfer the Income to hold
cr. branch office in the books of how
Dr. ho.
My first entry is booking entry in Branch book above and then transfer entry .
Tell me the impact on balance sheet.
See , at the end of the year , any profit or loss at branch will be transfer to H.O , However in between F.Y any fund (Income ) transfer to H.O at that time , H.O A/c will be Debited and Bank account will be credited , after booking of any Income entry in the Branch Book.
Receivable payable is already being accounted in both books. also rental income booked in HO books.
Here queriest want , entry of Rental Income which is received in branch , transfer to H.O so accordingly H.O account will be Debited and Bank account is Created .
In Branch books:-
Head Office A/c Dr
To Rent Received A/c
In H.O. books/-
Bank A/c Dr
To Branch Office A/c
These entries are correct when rent income of branch is received in HO Bank account
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