Question Tag: Profit Loading

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FA – May 2013 – L1 – SA – Q20 – Recording Financial Transactions

This question tests knowledge of the accounting entry to record profit loading on goods sent to a branch.

Question

The necessary accounting entry to record profit loading on goods sent to a branch by the Head Office is:

Debit | Credit
A. Branch Inventories Account | Branch Inventories Adjustment Account
B. Branch Inventories Account | Goods sent to Branch Account
C. Goods sent to Branch Account | Branch Inventories Account
D. Branch Inventories Adjustment Account | Branch Inventories Account
E. Branch Inventories Account | Goods sent to Branch Account

Answer

Find Related Questions by Tags, levels, etc.

Tags: Branch accounts, Profit Loading
Level: Level 1

Topic: Recording Financial Transactions
Series: MAY 2013

FA – May 2013 – L1 – SA – Q20 – Recording Financial Transactions

This question tests knowledge of the accounting entry to record profit loading on goods sent to a branch.

Question

The necessary accounting entry to record profit loading on goods sent to a branch by the Head Office is:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Branch accounts, Profit Loading
Level: Level 1

Topic: Recording Financial Transactions
Series: MAY 2013

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FA – May 2013 – L1 – SA – Q20 – Recording Financial Transactions

This question tests knowledge of the accounting entry to record profit loading on goods sent to a branch.

FA – May 2013 – L1 – SA – Q20 – Recording Financial Transactions

This question tests knowledge of the accounting entry to record profit loading on goods sent to a branch.

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