Branch accounting

A/c entries 1606 views 3 replies

How to treat the following in branch accounting?

1. Prepaid rent

2. Outstanding salary

3.Prepaid insurance

Replies (3)

Normal accounting treament , no separte treatment for these items in Branch accounts

 

Prepaid need to show as asset and charged off accorddingly in the future & outstanding expenses need to be show as liability and pay accordingly 

Thank you sir, but in debtors method where the H.O bears all the expenses of the branch the above mentioned shall be entered in the debit or credit side of branch account in the books of H.O?

In the Debtors system,since the expenses are centrally paid by HO. You can debit or credit the expenses and transfer to HO books 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register