A company with its headquarters in Ringwood opened a branch in Tewkesbury. The following transactions took place in the first month:
• Opened a bank account in Tewkesbury by transferring £25,000 from the Ringwood bank account.
• Bought premises in Tewkesbury, by cheque drawn on the Ringwood bank account, £200,000. • Tewkesbury bought a motor van, paying £17,000 from its own bank account.
• Tewkesbury bought fixtures on credit from Morgan Ltd, £27,000.
• Ringwood supplied Tewkesbury with a machine valued at £15,000 from its own machinery.
• Tewkesbury bought goods for resale, paying by cheque from its own account, £7,000.
• Tewkesbury’s cash sales banked immediately in its own account, £28,000.
• Goods invoiced at cost to Tewkesbury during the month by Ringwood (no cash or cheques being paid specifically for these goods by Tewkesbury), £39,000.
• A cheque is paid to Ringwood by Tewkesbury as a return of funds, £12,000.
• Goods returned to Ringwood by Tewkesbury – at cost price, £1,000.
You are required to show how these transactions would be recorded in The Head Office Records (in Ringwood).
. You are required to show how these transactions would be recorded in The Branch Records
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