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

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debits branch credits head office

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debits head office credits bank

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debits head office credits branch asset

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debit branch assets credit banks

1.	When a branch purchases fixed assets and the assets account is to be kept in the books of thehead 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

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