question archive The following information is available in respect of the East London branch for the year ending 31 December 2019: Inventory at branch on 1 January 2019 R30 000 Debtors ? 1 January 2019 R15 000 Inventory issued by head office at selling price R280 000 Inventory returned to head office at selling price R900 Cash sales deposited in the branch bank account R136 200 Credit sales R120 000 Cash received from debtors deposited in the branch bank account
The following information is available in respect of the East London branch for the year ending 31 December 2019: Inventory at branch on 1 January 2019 R30 000 Debtors ? 1 January 2019 R15 000 Inventory issued by head office at selling price R280 000 Inventory returned to head office at selling price R900 Cash sales deposited in the branch bank account R136 200 Credit sales R120 000 Cash received from debtors deposited in the branch bank account
Subject:AccountingPrice: Bought3
The following information is available in respect of the East London branch for the year ending 31 December 2019:
Inventory at branch on 1 January 2019 R30 000
Debtors ? 1 January 2019 R15 000
Inventory issued by head office at selling price R280 000
Inventory returned to head office at selling price R900
Cash sales deposited in the branch bank account R136 200
Credit sales R120 000
Cash received from debtors deposited in the branch bank account. R117 500
Debtors - 31 December 2019 R18 000
Inventory on hand at year end R53 376
Required:
Use the information provided to prepare the following general ledger accounts for the East London branch in the books of the head office for the year ending 31 December 2019:
-Branch inventory account.
-Branch adjustment account.
