OMTEX – CLASSES

“T HE HO ME OF T EX T”
F.Y.B.Com THEORY F.Y.B.Com

1. You are required to prepare Trading and Profit And Loss account and
consolidated Balance Sheet of Fair Play Ltd. In Mumbai and its Branch
at Delhi.
Particulars Debit Credit
H. O. Rs. Branch H.O. Rs Branch
Rs. Rs.
Manufacturing expenses 30,000 10,000
Salaries 30,000 10,000
Wages 1,00,000 40,000
Cash 10,000 2,000
Purchases 1,50,000 80,000
Capital 20,000
Good received from H.O. 15,000
Rent 8,000 4,000
General expenses 20,000 5,000
Sales 4,50,00 1,50,000
Goods sent to Branch 0
Purchase Returns 15,000 1,000
Opening Stock 50,000 30,000 5,000
Discount received 1,000
Machinery H.O 1,50,000 2,000
Machinery Branch 50,000
Furniture H.O. 7,000
Furniture Branch 3,000
Debtors 40,000 15,000
Creditors 5,000
Head Office Account 30,000 54,000
Branch Account 54,000

7,02,000 2,11,000 7,02,00 2,11,000

0
Closing stock at head office was Rs. 40,000/- and at Branch Rs. 30,000/-.
Depreciation is to be provided on Machinery at 20 % and furniture at 15%. Rent
outstanding at Branch Rs. 500/-

1
ACCOUNTS (F .Y. B. Com) OMTEX - CLASSES
Branch Account “The home of text”
 OMTEX – CLASSES
“T HE HO ME OF T EX T”
F.Y.B.Com THEORY F.Y.B.Com

2. X Ltd. whom H.O. in the Calcutta has a Branch at Madras. Which obtain
supply the partly from the head office at cost and partly from the other
local supplier. The Branch keep separate set of books. On 31/12/02 the
following balance were extracted.
Particulars Head office Branch A/c
Calcutta Madras
Dr. Cr. Dr. Cr.
Share capital 1,00.000
Fixed assets 88,000 30,000
Profit and Loss A/c 15,000
Opening Stock 15,000 7,000
Dr’s And Cr’s 18,000 6,000 5,000 3,000
Bank A/c 17,000 4,000
Purchase and Sales 3,00,000 3,20,000 20,000 82,000
Sundry expenses 12,000 9,000
Goods from H.O. to Branch 35,000 30,000
Current A/c 26,000 20,000

4,76,000 4,76,000 10,5000 105000

2
ACCOUNTS (F .Y. B. Com) OMTEX - CLASSES
Branch Account “The home of text”