1. Advanced Financial Accounting FIN-611
Mian Ahmad Farhan
Lecture-12
Departmental Accounts

2. Departmental Accounts

3. X’s Account
Particulars
Amount
Y’s A/c 50
Z A/c 70

4. Journal Entries
X A/c 50
Y A/c 50
Z A/c 70
X A/c 70

5. Journal Entries 1- Transfer opening assets to branch Account
Branch A/c xxx
Assets xxx
(With opening balances)
2- Transfer opening liabilities to branch Account
Liabilities xxx (With opening balances)

6. Balance b/f 100
Branch A/c 100
Debtors 100
Opening debtors 100

7. Journal Entries 3- Goods sent to branch Branch A/c xxx
Goods sent to branch A/c xxx
4- Cash sent to branch for expenses
Branch A/c xxx Cash / Bank A/c xxx

8. Journal Entries 5- Cash Received from branch Cash / Bank A/c xxx
Branch A/c xxx
6- Goods return from branch
Goods sent to branch A/c xxx
Branch A/c xxx

9. Journal Entries 1- HO sent goods to branch Branch A/c xxx
Goods sent to branch A/c xxx
2- Goods return from branch to HO
Goods sent to branch A/c xxx
Branch A/c xxx

10. Goods Sent to Branch Account
Particulars
Amount
Goods sent to branch
Balance 20 80
100

11. Journal Entries 7- Transfer closing assets to branch Account
Assets xxx
(With closing balances)
Branch A/c xxx
8- Transfer closing liabilities to branch Account
Liabilities xxx (With closing balances)

12. Journal Entries 9- Profit or loss of branch a). Profit Branch A/c xxx
Profit & Loss xxx
b). Loss