When a branch purchases fixed assets and the assets account is to be kept in the books of the
head office, the branch makes the following entry

Question

TuteeHUB · Accepted Answer

debits branch credits head office

TuteeHUB · Answer

debits head office credits bank

TuteeHUB · Answer

debits head office credits branch asset

TuteeHUB · Answer

debit branch assets credit banks

1.	When a branch purchases fixed assets and the assets account is to be kept in the books of the head office, the branch makes the following entry
A.	debits head office credits bank
B.	debits branch credits head office
C.	debits head office credits branch asset
D.	debit branch assets credit banks
Answer» B. debits branch credits head office

Discussion