When a branch purchases fixed assets and the assets account is to be kept in the books of the head office, the branch makes the following entry
A) debits head office credits bank
B) debits branch credits head office
C) debits head office credits branch asset
D) debit branch assets credit banks
Correct Answer:
Verified
Q38: Provision for unrealized profit with respect to
Q39: Branch account under debtors system is a
Q40: Branch account under stock and debtors system
Q41: When branch A sent goods to branch
Q42: Goods sent by the head office to
Q44: Depreciation on branch assets under debtors system
Q45: Stock reserve in relation to closing stock
Q46: Branch adjustment account is in the nature
Q47: Cash remitted by branch but not received
Q48: Goods sent by branch X to branch
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