74. The forecast below is in XY's head office books at the end of January. Prepare thejournal entries, which affect the head office's estimates and are listed in the branch's booksfor the month of January.АВ Branch19871987Balance$67,500Remittance frombranch1/116/1$2.000Branch bill payment 2,500Return of goods bybranch10/120/11.200Branch accounts.receivable collection150Payment for branch 10,000inventory10/125/1Delivery of goods to 6,500the branch16/131/1Branch loss for this750month800Expenses chargedto branches30/1

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74. The forecast below is in XY's head office books at the end of January. Prepare the journal entries, which affect the head office's estimates and are listed in the branch's books for the month of January. АВ Branch 1987 1987 Balance $67,500 Remittance from branch 1/1 16/1 $2.000 10/1 Branch bill payment 2,500 20/1 Return of goods by 1.200 branch 150 Payment for branch 10,000 inventory 25/1 Branch accounts. receivable collection 10/1 Delivery of goods to 6,500 the branch Branch loss for this month 16/1 31/1 750 30/1 Expenses charged to branches 800

74. The forecast below is in XY's head office books at the end of January. Prepare the journal entries, which affect the head office's estimates and are listed in the branch's books for the month of January. АВ Branch 1987 1987 Balance $67,500 Remittance from branch 1/1 16/1 $2.000 10/1 Branch bill payment 2,500 20/1 Return of goods by 1.200 branch 150 Payment for branch 10,000 inventory 25/1 Branch accounts. receivable collection 10/1 Delivery of goods to 6,500 the branch Branch loss for this month 16/1 31/1 750 30/1 Expenses charged to branches 800

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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