Use the information below to Answer questions 46 and 47.
Among Limited invoiced goods at a cost of N10,000 to its Ikeja branch at a marginal of 20%. The branch later returned goods worth N1,200 at invoice price to the head office.
The profit marginal should be?

Question

Use the information below to Answer questions 46 and 47.

Among Limited invoiced goods at a cost of N10,000 to its Ikeja branch at a marginal of 20%. The branch later returned goods worth N1,200 at invoice price to the head office.

The profit marginal should be?

Lessonnotes Admin · Accepted Answer

The answer is D. credit to branch stock adjustment account.