4. ABC Company operates a branch. +tוווש 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. Branch P 78,500 20,000 Home Office Sales P 256,000 Purchases from outsiders 210,000 Shipments to branch: Cost to home office Billing price to branch Expenses Inventories, January 1, 2008: Home office acquired from outsiders, at cost Branch: 30,000 40,000 12,500 60,000 80,000
4. ABC Company operates a branch. +tוווש 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. Branch P 78,500 20,000 Home Office Sales P 256,000 Purchases from outsiders 210,000 Shipments to branch: Cost to home office Billing price to branch Expenses Inventories, January 1, 2008: Home office acquired from outsiders, at cost Branch: 30,000 40,000 12,500 60,000 80,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![4. ABC Company operates a branch.
Lוווט
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 Office
P 256,000
210,000
Branch
Sales
P 78,500
Purchases from outsiders
Shipments to branch:
Cost to home office
Billing price to branch
Expenses
Inventories, January 1, 2008:
Home office acquired from outsiders, at cost
Branch:
20,000
30,000
40,000
12,500
60,000
80,000
Acquired from outsiders, at cost
Acquired from home office, at billed price
(which averaged 22 ½ above cost)
7,500
24,500
Inventories, December 31, 2008:
Home Office, acquired from outsiders, at cost
Branch:
55,000
Acquired from outsiders, at cost
Acquired from home office, at 2008 billed
price
5,500
26,000
Your answer
5. Using the same information in #4,
determine combined net income (loss) of the
home office and the branch for the year 2021.
Your answer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb3043587-1338-4a5e-a5f1-e563c3920423%2F0940f6be-2028-4e86-9530-e2d053489045%2Fr29455_processed.jpeg&w=3840&q=75)
Transcribed Image Text:4. ABC Company operates a branch.
Lוווט
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 Office
P 256,000
210,000
Branch
Sales
P 78,500
Purchases from outsiders
Shipments to branch:
Cost to home office
Billing price to branch
Expenses
Inventories, January 1, 2008:
Home office acquired from outsiders, at cost
Branch:
20,000
30,000
40,000
12,500
60,000
80,000
Acquired from outsiders, at cost
Acquired from home office, at billed price
(which averaged 22 ½ above cost)
7,500
24,500
Inventories, December 31, 2008:
Home Office, acquired from outsiders, at cost
Branch:
55,000
Acquired from outsiders, at cost
Acquired from home office, at 2008 billed
price
5,500
26,000
Your answer
5. Using the same information in #4,
determine combined net income (loss) of the
home office and the branch for the year 2021.
Your answer
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