Home Office P 256,000 210,000 Branch Sales P 78,500 Purchases from outsiders 20,000 Shipments to branch: Cost to home office 30,000 Billing price to branch Expenses Inventories, January 1, 2021: Home office acquired from outsiders, at cost Branch: 40,000 60,000 12.500 80,000 Acquired from outsiders, at cost Acquired from home office, at billed price (which averaged 22 ½ above cost) 7.500 24,500 Inventories, December 31, 2021: Home Office, acquired from outsiders, at cost Branch: 55,000 Acquired from outsiders, at cost Acquired from home office, at 2021 billed price 5,500 26,000

Home Office P 256,000 210,000 Branch Sales P 78,500 Purchases from outsiders 20,000 Shipments to branch: Cost to home office 30,000 Billing price to branch Expenses Inventories, January 1, 2021: Home office acquired from outsiders, at cost Branch: 40,000 60,000 12.500 80,000 Acquired from outsiders, at cost Acquired from home office, at billed price (which averaged 22 ½ above cost) 7.500 24,500 Inventories, December 31, 2021: Home Office, acquired from outsiders, at cost Branch: 55,000 Acquired from outsiders, at cost Acquired from home office, at 2021 billed price 5,500 26,000

Name: ABC Company operates a branch. Operating data for the home office and
Uploaded: 2024-03-20T06:32:37.000Z
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Description: ABC Company operates a branch. Operating data for the home office and the branch for 2021 are as follows: (see image below)Determine the Branch December 31, 2021 Inventory at cost? Home OfficeBranchP 256,000SalesPurchases from outsidersP 78,500210,00

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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