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From home office (excl. goods in transit) Expenses 150,000 250,000 320,000 43. The cost of the shipment in transit is P50,000 P162,500 om c. P80,000 d. P62,500 a. b. babolee deco

From home office (excl. goods in transit) Expenses 150,000 250,000 320,000 43. The cost of the shipment in transit is P50,000 P162,500 om c. P80,000 d. P62,500 a. b. babolee deco

FINANCIAL ACCOUNTING
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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Please answer question No. 43 and 44

Please provide a complete solution. Thank you!

Macro Sales, Inc. has a branch in Tarlac. The Tarlac branch buys merchandise from third parties and receives merchandise from the home office for which it is billed at 25% above cost. Below are excerpts from the trial balances and data on the home and Tarlac branch for the month just ended: Home Office P2,000,000 900,000 Branch Sales P1,900,000 Shipment to branch Shipments from home office Allow. for overvaluation of branch inventory 1,062,500 245,000 2,100,000 450,000 Purchases Inventories: 350,000 200,000 Beginning inventory Ending inventory .00 From outsider 400,000 180,000
Transcribed Image Text:Macro Sales, Inc. has a branch in Tarlac. The Tarlac branch buys merchandise from third parties and receives merchandise from the home office for which it is billed at 25% above cost. Below are excerpts from the trial balances and data on the home and Tarlac branch for the month just ended: Home Office P2,000,000 900,000 Branch Sales P1,900,000 Shipment to branch Shipments from home office Allow. for overvaluation of branch inventory 1,062,500 245,000 2,100,000 450,000 Purchases Inventories: 350,000 200,000 Beginning inventory Ending inventory .00 From outsider 400,000 180,000
From home office (excl. goods in transit) Expenses 150,000 250,000 320,000 43. The cost of the shipment in transit is P50,000 P162,500 P80,000 P62,500 a. C. b. d. 44. The excess freight charged as additional expense of the Banana Republic company amounted to: alood OH P1,000 P1,500 P4,000 d. P2,500 a. С. b. Trial balances for the home office and the branch of the Tony Co. show the
Transcribed Image Text:From home office (excl. goods in transit) Expenses 150,000 250,000 320,000 43. The cost of the shipment in transit is P50,000 P162,500 P80,000 P62,500 a. C. b. d. 44. The excess freight charged as additional expense of the Banana Republic company amounted to: alood OH P1,000 P1,500 P4,000 d. P2,500 a. С. b. Trial balances for the home office and the branch of the Tony Co. show the
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