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Branch Accounting

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(Querist)
27 August 2010 I transfer stock at cost of 2000/- to branch. Now branch sold 1040/- (1000 item cost + 40 Vat). They send sales invoice & Cash to head office.
what all entry done at head office.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
27 August 2010 IN HEAD OFFICE

1. FOR RECEIPT OF GOODS
GOOD T/F FROM BRANCH DR2000/-
TO BRANCH 2000/-


2. FOR SALE , IF CASH SALES THEN

CASH DR 1040
TO SALES 1000/-
TO VAT PAYABLE 40/-

3. FOR CASH T/F
BRANCH DR 1000
TO CASH 1000
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
27 August 2010 You need to pass Dr. Bank/Cash Cr. Respective Branch remittance a/c
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