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What are the Accounting entries for branch accounts?

Open uri20170510 32134 ughyv5?1494421703 asked

Hi I am one of the CA student. I am having doubt about accounting. Can I know, What are the Accounting entries for branch accounts?

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

When Cash or Bank money is given by head office to branch for operating branch activities. In the books of branch Cash/ Bank Account Dr. Head office Account Cr. When expenses are paid by branch In the books of branch Respective Expense Account Dr. Cash / Bank Account Cr. When expenses are paid by head office In the books of branch Respective Expense Account Dr.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

When Cash or Bank money is given by head office to branch for operating branch activities. In the books of branch Cash/ Bank Account Dr. Head office Account Cr. When expenses are paid by branch In the books of branch Respective Expense Account Dr. Cash / Bank Account Cr. When expenses are paid by head office In the books of branch Respective Expense Account Dr. Head Office Account Cr.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

In very large scale corporation, products are sold in different countries, states, districts and cities. All this commercial activities can be possible only after making independent branches. For knowing the correct financial and revenue position of each branch, branch accounting is best tool for this. Co-ordination of branch accounts with head office accounts is also necessary. All these things can be done by branch accountant, if he knows to pass branch accounting entries. So, today, we will discuss different branch transactions and its branch accounting entries. 1. When Cash or Bank money is given by head office to branch for operating branch activities. In the books of branch Cash/ Bank Account Dr. Head office Account Cr. 2. When expenses are paid by branch In the books of branch Respective Expense Account Dr. Cash / Bank Account Cr. 3. When expenses are paid by head office In the books of branch Respective Expense Account Dr. Head Office Account Cr.

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