Branch account under stock and debtors system is a
Asked by admin @ in Accountancy viewed by 459 People
Under the stock and debtor system branch account is treated as
Asked by admin @ in Accountancy viewed by 459 People
Under the stock and debtor system branch account is treated as
Answered by admin @
Answer:
Therefore, the system can be called Debtors System or One Account System. The excess of the credit over its debit represents a profit or vice-versa, and is transferred to General Profit and Loss Account of Head Office. Branch Account is prepared in the books of Head Office and is a Nominal Account.
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