Goods sent by HO but not received by branch before the end of the year, by debiting it to goods in transit, which account should be credited?
A) cash a/c
B) h.o. a/c
C) trading a/c
D) branch a/c
Correct Answer:
Verified
Q13: Goods in transit are shown in the
Q14: H.O. has sent goods on invoice price
Q15: The adjusting entry for difference between the
Q16: Stock and debtors system is generally used
Q17: H.O. sent goods to branch at invoice
Q19: If the opening balance of debtors is
Q20: The system of keeping accounts generally adopted
Q21: Goods are supplied by the head office
Q22: Under debtors system which account is prepared
Q23: Under debtors system depreciation on fixed asset
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