Use the information to answer the question given. \(\begin{array}{c|c} \text{Branch stock account (at selling price)} & D346,000 - debit \\ \text{Branch mar...
Question 1 Report
Use the information to answer the question given.
\(\begin{array}{c|c} \text{Branch stock account (at selling price)} & D346,000 - debit \\ \text{Branch mark-up account} & D62,000 - credit \end{array}\)
Calculate the stock figure to be included in the balance sheet at the year end
\(\begin{array}{c|c} \text{Branch stock account (at selling price)} & D346,000 - debit \\ \text{Branch mark-up account} & D62,000 - credit \end{array}\)
Calculate the stock figure to be included in the balance sheet at the year end
Answer Details
To calculate the stock figure to be included in the balance sheet at the year end, we need to subtract the branch markup account from the branch stock account.
D346,000 - D62,000 = D284,000
Therefore, the stock figure to be included in the balance sheet at the year end is D284,000.
Option (iii) D284,000 is the correct answer.
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