Entry pass
This query is : Resolved
15 April 2016
Head office sent a money to new branch for opening new bank a/c. What entry should made by the Branch in Branch Books and What entry should made by the HO in HO Books ?
15 April 2016
1) When money is sent by HO:
In the books of HO entry will be
Branch Account Dr
To Cash Account
In the books of Branch:
Cash Account Dr
To Head Office Account
2) When Bank account is opened, only contra entry is required to be passed by Branch:
Bank Account Dr
To Cash Account
In the books of HO entry will be
Branch Account Dr
To Cash Account
In the books of Branch:
Cash Account Dr
To Head Office Account
2) When Bank account is opened, only contra entry is required to be passed by Branch:
Bank Account Dr
To Cash Account
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