Question on: WAEC Accounting - 1997
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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
A
Sales Account, credit Branch Adjustment Account
B
Adjustment Accoutnt, credit Branch Stock Account
C
Stock Account, credit Branch Adjustment Account
D
Adjustment Account, credit Branch Profit and Loss Account
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Correct Option: C
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