ABC Company operates a branch in Cebu City. Selected accounts taken from the May 31, 2016 statements ofABC and its branch follow:Head OfficeP380,000150,00039,50024,000300,000BranchP353,000SalesShipments to branchBranch merchandise mark-upInventory, June 1, 2015PurchasesShipments from home officeInventory, May 31, 201616,00060,000187,50020,70028,000The branch ending inventory included items costing P8,700 that were acquired from outside suppliers.6. The realized mark-up on branch merchandise that would be recognized by the home office isа. Р36,000b. Р36,700с. Р37,100d. P38,040e. None of these7. How much is the cost of sales presented in the Branch books?а. Р263,500b. P222,800c. P204,500d. P242,800e. None of these8. How much is the mark-up from beginning inventory of the Branch?a. P2, 400b. Р4, 140с. Р3, 200d. P38,300e. None of these9. How much is the combined ending inventory of ABC Company?а. Р48,700b. P46,300с. Р38, 300d. 47, 800e. None of these

Name: ABC Company operates a branch in Cebu City. Selected accounts taken f
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Description: ABC Company operates a branch in Cebu City. Selected accounts taken from the May 31, 2016 statements ofABC and its branch follow:Head OfficeP380,000150,00039,50024,000300,000BranchP353,000SalesShipments to branchBranch merchandise mark-upInventory,

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Business

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7. How much is the cost of sales presented in the Branch books? a. P263,500 b. P222,800 c. P204,500 d. P242,800 None of these e.

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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