A reconciliation of the Investment in Tarlac Branch account of Manila Company and the Home Office account carried in the books of the branch shows the following discrepancies at December 31, 2021: > A credit for merchandise allowance for P3,000 was taken by the branch as P3,600. > A charge by the branch of P5,500 for an advance taken by the president when he visited the branch has not yet been recorded by the home office. 3. The branch has not taken up P9,000 covered by a debit memo from the home office as share in advertising expenses. The Investment in Tarlac Branch account in the home office books had a de bit balance of P430,000 at December 31, 2021. The reciprocal accounts were in agreement at the beginning of the year. What is the unadjusted balance of the Home Office account in the books of the branch on December 31, 2021?
A reconciliation of the Investment in Tarlac Branch account of Manila Company and the Home Office account carried in the books of the branch shows the following discrepancies at December 31, 2021: > A credit for merchandise allowance for P3,000 was taken by the branch as P3,600. > A charge by the branch of P5,500 for an advance taken by the president when he visited the branch has not yet been recorded by the home office. 3. The branch has not taken up P9,000 covered by a debit memo from the home office as share in advertising expenses. The Investment in Tarlac Branch account in the home office books had a de bit balance of P430,000 at December 31, 2021. The reciprocal accounts were in agreement at the beginning of the year. What is the unadjusted balance of the Home Office account in the books of the branch on December 31, 2021?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Tarlac Branch
A. 414,900
B. 419,906
C. 429,500
D. 404,900
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