a. 87,500b. 66,000c. 63,000d. 84,000 Entity A bills its branch for merchandise shipments 25% of sale. As of cut-off date, December 31, 2021, thefollowing data were available:Outside SupplierShipment from Home Office300,000Beginning Inventory120,000Purchases360,000471,000Ending Inventory150,000420,000The branch returned P15,000 merchandise to the home office acquired at billed price. How much is the amountof the allowance for overvaluation account that was realized in December?

Calculation of Allowance for overvaluation is shown below:

Entity A bills its branch for merchandise shipments 25% of sale. As of cut-off date, December 31, 2021, the following data were available: Outside Supplier Shipment from Home Office Beginning Inventory 120,000 300,000 Purchases 360,000 471,000 Ending Inventory 150,000 420,000 The branch returned P15,000 merchandise to the home office acquired at billed price. How much is the amount of the allowance for overvaluation account that was realized in December?

Entity A bills its branch for merchandise shipments 25% of sale. As of cut-off date, December 31, 2021, the following data were available: Outside Supplier Shipment from Home Office Beginning Inventory 120,000 300,000 Purchases 360,000 471,000 Ending Inventory 150,000 420,000 The branch returned P15,000 merchandise to the home office acquired at billed price. How much is the amount of the allowance for overvaluation account that was realized in December?

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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