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Financial Accountancy
Note: - Attempt any 5 questions.
Q.1 a) How will you deal with normal loss of stocks, abnormal loss of stocks, goods returned by branch customers directly to head office and cash remitted by branch customers directly to H.O. under debtors system?
b) A trader has a branch at calcutia to which goods are involved at cost plus 20 %
prepare a branch account in H.O. books from the following:
Rs.
Opening stock at Branch 24,000
Cash scale at Branch 17,000
Credit sales 41,000
Collection from debtors 37,900
Goods received from H.O. 30,000
Branch Expenses 3,000
Paid by Branch 6,000
Expenses unpaid 10,000
Closing stock at Branch 18,000
Closing balance of debtors 9,160
Goods in transit from H.O. 3,600
Q.2 Transporters Ltd. purchased from Madras Motors 3 trucks costing Rs. 5,00,000 each on the hire-purchase system. Payment was to be made Rs. 3,00,000 down and the remainder in 3 equal instalments together with interest @ 18 per cent per annum. transporters Ltd. write off depreciation 20 % on the diminishing the...