assess two accounting books
1.head office 2.branch office
branch office rental income show in head office accounting entry passed.
question:
how to accounting entry passed branch office rental income transfer to head office in both books.
In the books of Branch
when rent received
Bank A/c Dr
To Rental received A/c Cr
( Being rent received )
received rent transfer to Head office
Head office A/c Dr
To Bank A/c Cr
( rent transfer to H.O )
In the books of Head office
Bank A/c Dr
To Branch office A/c Cr
( rental income received from Branch )
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