Advanced financial accounting - Lecture 11: Branch accounting
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Advanced Financial
Accounting
FIN611
Mian Ahmad Farhan
Lecture11
Branch Accounting
Closing capital
Add Drawings
Less Opening capital
Less Fresh capital
xxx
xxx
xxx
xxx
xxx
Opening Capital
Particulars
Amount
Particulars
Amount
Opening
assets
100
Opening
liabilities
30
70
Opening
capital
100
100
Closing Capital
Particulars
Amount
Particulars
Amount
Closing
liabilities
20
Closing assets 150
Closing capital 130
150
150
Question
Opening assets Rs. 100
Opening liabilities Rs. 30
Closing liabilities Rs. Rs. 20
Closing assets Rs. 150
Fresh capital introduced amounted Rs. 70
Drawings during the year amounted Rs, 100
Question
Fresh capital introduced amounted Rs. 70
Drawings during the year amounted Rs, 100
Solution
Closing capital
Add Drawings
Less Opening capital
Less Fresh capital
130
100
70
70
90
Solution
Particulars
Amount
Opening assets 100
70
Fresh capital 20
Closing
liabilities
90
Profit/Loss
280
Particulars
Amount
Opening
liabilities
Drawings
Closing assets
30
100
150
280
Solution
Particulars
Amount
Particulars
Amount
Opening assets
Fresh capital
Closing
liabilities
Closing due
100
70
20
30
Opening
liabilities
Drawings
Closing assets
30
100
150
Profit/Loss
30
60
280
280
Solution
Particulars
Amount
Particulars
Amount
Opening
assets
Fresh capital
Closing
liabilities
Closing due
100
70
20
30
Opening
liabilities
Drawings
Closing prepaid
Closing advance
30
100
30
150
Profit/Loss
90
310
310
