From the following information, find the branch profit or loss of the branch: PARTICULARSs AMOUNT Opening stock 30000 Goods sent to branch 90000 Sales 120000 Expenses: Salaries 10000 Other expenses 4000 The closing stock could not be ascertained, but it is to be known that the branch usually sells at cost plus 20%. The branch manager is entitled to a commission of 5% on the profit of the branch before charging such commission. The branch loss or profit transferred to P & LA/c will be? Rs. 6700 Rs. 6500 Rs. 5600 Rs. 5700

From the following information, find the branch profit or loss of the branch: PARTICULARSs AMOUNT Opening stock 30000 Goods sent to branch 90000 Sales 120000 Expenses: Salaries 10000 Other expenses 4000 The closing stock could not be ascertained, but it is to be known that the branch usually sells at cost plus 20%. The branch manager is entitled to a commission of 5% on the profit of the branch before charging such commission. The branch loss or profit transferred to P & LA/c will be? Rs. 6700 Rs. 6500 Rs. 5600 Rs. 5700

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.2.2P

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Shipments received from home office are billed at 120% of cost. During the year, the branch received shipments billed at P360,000, and returned damaged goods with billed price of P24,000. The branch has an ending inventory of P72,000. The branch reported a loss of P10,000. How much is the true branch income? Choices: P44,000 P34,000 P54,000 P56,000
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