Accounts - Principles of Accounts Past Questions and Answers

The amount paid by the new partner on admission as a compensation for the reputation built up by old partners is a

	N
Stock at branch 1st January at cost	400
Goods sent to branch at cost	8000
Returns to head office	340
Cash sales	9160
Stock at branch 31st December at cost	720

Use the information below to answer the question.
Adex Ltd. Issues stock to its retail branches at cost price. The following particulars relate to Ede branch.

Which of the following methods of invoicing goods to branches facilitate easy checks on the activities of branches?

When goods are sent to branch at cost plus mark up, it means that the branch should sell at_____________

In departmental accounting, which is not a transfer pricing_________