WAEC - Accounts Principles Of Accounts (1997 - No. 19)
Use the following information to answer this question
A company charges out goods to a branch at cost plus 25 percent. It invoiced N12,00 worth of goods
The double entry required for the mark-up is debit Branch
A company charges out goods to a branch at cost plus 25 percent. It invoiced N12,00 worth of goods
The double entry required for the mark-up is debit Branch
Sales Account, credit Branch Adjustment Account
Adjustment Accoutnt, credit Branch Stock Account
Stock Account, credit Branch Adjustment Account
Adjustment Account, credit Branch Profit and Loss Account
Profit and Lost Account, credit Branch Stock Account
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