Goods Sent – NBC Institute

FA – May 2013 – L1 – SA – Q40 – Accounting Concepts

This question tests knowledge of the accounting entry for goods sent to a branch by 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

State the account to be credited with goods returned to Head office by the branch and at what value?

Answer

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Tags: Branch accounts, Goods Sent
Level: Level 1

Topic: Accounting Concepts
Series: MAY 2013

Question Tag: Goods Sent

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FA – May 2013 – L1 – SA – Q40 – Accounting Concepts

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

FA – May 2013 – L1 – SA – Q40 – Accounting Concepts

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

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FA – May 2013 – L1 – SA – Q40 – Accounting Concepts

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

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FA – May 2013 – L1 – SA – Q40 – Accounting Concepts

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

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