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Branch and Home Office Accounting Entries

The document shows accounting journal entries for a home office and branch office. The home office records investments in the branch office totaling $110,500 through cash and shipment accounts. The branch office records the receipt of these funds from the home office totaling $110,500 through cash and shipment accounts. The branch office records sales of $125,000, expenses totaling $47,000 and remits income of $130,000 to the home office.

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Samuel Ferolino
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62 views4 pages

Branch and Home Office Accounting Entries

The document shows accounting journal entries for a home office and branch office. The home office records investments in the branch office totaling $110,500 through cash and shipment accounts. The branch office records the receipt of these funds from the home office totaling $110,500 through cash and shipment accounts. The branch office records sales of $125,000, expenses totaling $47,000 and remits income of $130,000 to the home office.

Uploaded by

Samuel Ferolino
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

HOME OFFICE BOOKS

Account Title Debit Credit


Investment in Branch 30,000.00
Cash 30,000.00
#
Investment in Branch 75,000.00
Shipment to Branch 75,000.00
#
NO ENTRY

#
NO ENTRY

#
Shipment to Branch 2,000.00
Investment in Branch 2,000.00
#
NO ENTRY

#
NO ENTRY

#
NO ENTRY

#
Investment in Branch 7,500.00
Accumulated Depreciation 7,500.00

#
Cash 65,000.00
Shipment to Branch 65,000.00
#
Cash 3,000.00
Investment in Branch 3,000.00
#
Investment in Branch 10,000.00
Branch Income 10,000.00
#
Income from Branch 10,000.00
Income Summary 10,000.00
#
Income Summary 10,000.00
Retained Earnings 10,000.00
#
BRANCH OFFICE BOOKS
Account Title Debit Credit
Cash 30,000.00
Home Office 30,000.00
#
Shipment from Home Office 75,000.00
Home Office 75,000.00
#
Purchases 10,000.00
Accounts Payable 10,000.00
#
Accounts Receivable 125,000.00
Sales 125,000.00
#
Home Office 2,000.00
Shipment from Home Office 2,000.00
#
Cash 105,000.00
Accounts Receivable 105,000.00
#
Accounts Payable 7,000.00
Cash 7,000.00
#
Salaries Expense 10,000.00
Rent Expense 5,000.00
Utilities Expense 2,000.00
Other Operating Expense 12,500.00
Cash 29,500.00
#
Depreciation Expense 1,500.00
Rent Expense 5,000.00
Insurance Expense 1,000.00
Home Office 7,500.00
#
Home Office 65,000.00
Cash 65,000.00
#
Home Office 3,000.00
Accounts Receivable 3,000.00
#
Sales 125,000.00
Inventory End 5,000.00
Shipment from Home Office -
Salaries Expense 10,000.00
Rent Expense 10,000.00
Utilities Expense 2,000.00
Depreciation Expense 1,500.00
Insurance Expense 1,000.00
Purchases 10,000.00
Other Operating Expense 12,500.00
Income Summary 130,000.00
#
Income Summary 130,000.00
Home Office 130,000.00
#

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