Goods Returned – NBC Institute

FA – May 2013 – L1 – SA – Q39 – Accounting Concepts

This question tests knowledge of the accounting treatment for goods returned by a branch to the head office.

Question

A head office sent goods at cost plus mark-up of 25% to the branch. The invoice price of the goods was N289,200. During the period, the branch returned N10,000 worth of goods to the Head office

What is the value of goods that should be credited to branch account during the period?

Answer

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Tags: Branch accounts, Goods Returned
Level: Level 1

Topic: Accounting Concepts
Series: MAY 2013

Question Tag: Goods Returned

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FA – May 2013 – L1 – SA – Q39 – Accounting Concepts

This question tests knowledge of the accounting treatment for goods returned by a branch to the head office.

FA – May 2013 – L1 – SA – Q39 – Accounting Concepts

This question tests knowledge of the accounting treatment for goods returned by a branch to the head office.

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This question tests knowledge of the accounting treatment for goods returned by a branch to the head office.

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FA – May 2013 – L1 – SA – Q39 – Accounting Concepts

This question tests knowledge of the accounting treatment for goods returned by a branch to the head office.

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