File Name: home office and branch accounting test bank .zip
- Branch Accounting Testbank
- Test bank of Advanced Accounting by Guerrero & Peralta CHAPTER 12
- AFAR 2: HOME OFFICE AND BRANCH ACCOUNTING
- LECTURE NOTES
Embed Size px x x x x Instructions:Choose the most correct answer for each of the following questions. On February 14, , Therese Company established a sales agency in Tagbilaran.
Branch Accounting Testbank
A transaction that takes place in a branch of your bank may involve accounts that are maintained in another branch. For example, a customer has an account in the Head Office branch and approaches another branch of the bank for a cash withdrawal. For each combination of branches that may be involved in an inter-branch transaction, you can define the currency and the respective customer accounts to which the related accounting entries will be posted. The accounting entries for such inter-branch transactions can be routed in one of the following ways:. In this screen you maintain the following for each combination of branches that may be involved in an inter-branch transaction:. The system generates a set of pairs of branches for which internal accounts should be maintained. The pairs generated depend upon on two factors:.
Test bank of Advanced Accounting by Guerrero & Peralta CHAPTER 12
In this article we will discuss about the top sixteen accounting problems on Branch Accounts with their relevant solutions. From the following figures, prepare all the necessary accounts for the year ended 31st March, and Delhi Branch Account for the year ended 31st March From following particulars relating to Patna Branch for the year ending 31st March, , prepare accounts in the head office books:. Amrit Oils Ltd. From the following particulars relating to and ascertain the profit made at Delhi Branch in the two years.
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The post-closing trial balance in the Unrealized Gross Profit in Branch Inventory account is P 6, due to the home office practice of shipping merchandise at 20%.
AFAR 2: HOME OFFICE AND BRANCH ACCOUNTING
On February 14, , Therese Company established a sales agency in Tagbilaran. Upon establishment of the sales agency, the home office sent samples costing P8, and a working fund of P3, to be maintained on the imprest basis. During the six months period, the sales agency reported to the home office sales orders.
Shipment to Branch account has no beginning balance, because this was closed at the end of Error in recording shipment to Cavity branch 12, Error in recording shipment to Tagaytay branch 15, Pendapatan Investasi Investment Income. Investment in branch 2, Shipment from home office 2,
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Practice Made Simple: In addition to adaptive practice and learning objective level practice, an end-of-chapter practice assignment includes additional exercises, brief exercises, and problems to ensure students have many opportunities for additional practice. Complete the sentences below. If you have already found the problem you can skip this part. Chapter 1 defines financial accounting, and differentiates it from bookkeeping and other types of accounting. Whether you're studying sociology, differential equations or French II, these free CliffsNotes articles can help you when doing your homework, writing papers, or taking tests. Problems and Solutions based on and for understanding Journal and related aspects in financial accounting. Expertise in Accounting and Finance is essential for success in business as well as every enterprise in every sector.
Test bank of Advanced Accounting by Guerrero & Peralta CHAPTER 16 7. Loading. Expenses assigned to branch by the home office 8, Cash remittance to home Download (PDF - 16 Halaman - KB). Related subjects.
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