Light of Jesus operates a branch in Cagayan de Oro City. Selected accounts taken from Dec. 31, 2010 financial statements of Light of Jesus and its branch follows: Home Office Branch Sales P6,900,000 P3,765,000 Shipments to Branch 1,750,000 Shipments from home office 2,187,500 Inventory, Jan. 1 800,000 120,000 Inventory, Dec. 31 640,000 250,000 Purchases 6,800,000 1,000,000 Allowance for overvaluation before adjustment 452,500 Expenses 356,000 250,000 The ending inventory of the branch includes P120,000 purchased from outside suppliers. The consolidated net income is :
Light of Jesus operates a branch in Cagayan de Oro City. Selected accounts taken from Dec. 31, 2010 financial statements of Light of Jesus and its branch follows: Home Office Branch Sales P6,900,000 P3,765,000 Shipments to Branch 1,750,000 Shipments from home office 2,187,500 Inventory, Jan. 1 800,000 120,000 Inventory, Dec. 31 640,000 250,000 Purchases 6,800,000 1,000,000 Allowance for overvaluation before adjustment 452,500 Expenses 356,000 250,000 The ending inventory of the branch includes P120,000 purchased from outside suppliers. The consolidated net income is :
Chapter1: Financial Statements And Business Decisions
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Light of Jesus operates a branch in Cagayan de Oro City. Selected accounts taken from Dec. 31, 2010 financial statements of Light of Jesus and its branch follows: Home Office Branch Sales P6,900,000 P3,765,000 Shipments to Branch 1,750,000 Shipments from home office 2,187,500 Inventory, Jan. 1 800,000 120,000 Inventory, Dec. 31 640,000 250,000 Purchases 6,800,000 1,000,000 Allowance for overvaluation before adjustment 452,500 Expenses 356,000 250,000 The ending inventory of the branch includes P120,000 purchased from outside suppliers. The consolidated net income is :
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