4. ABC Company operates a branch. Operating data for the home office and the branch for 2021 are as follows: (see image below) Determine the Branch December 31, 2021 Inventory at cost. Home OfficeBranchP 256,000SalesPurchases from outsidersP 78,500210,00020,000Shipments to branch:Cost to home office30,00040,00012,500Billing price to branchExpensesInventories, January 1, 2021:Home office acquired from outsiders, at costBranch:60,00080,0007,500Acquired from outsiders, at costAcquired from home office, at billed price(which averaged 22 % above cost)24,500Inventories, December 31, 2021:Home Office, acquired from outsiders, at cost55,000Branch:Acquired from outsiders, at costAcquired from home office, at 2021 billedprice5,50026,000

Name: 4. ABC Company operates a branch. Operating data for the home office a
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Description: 4. ABC Company operates a branch. Operating data for the home office and the branch for 2021 are as follows: (see image below) Determine the Branch December 31, 2021 Inventory at cost. Home OfficeBranchP 256,000SalesPurchases from outsidersP 78,50021

Inventory means the stock of goods in hand . Goods means the thing in which the business deals and…

Answered: 4. ABC Company operates a branch.…

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4. ABC Company operates a branch. Operating data for the home office and the branch for 2021 are as follows: (see image below) Determine the Branch December 31, 2021 Inventory at cost.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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ABC Company operates a branch. Operating data for the home office and the branch for 2021 are as follows: (see image below) Determine the Branch December 31, 2021 Inventory at cost.
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