Question no.1: The cost of sales of the Makati Branch and the cost of sales of Makati Branch inventory at the end of the year?Choices:a. 140,000: 38,000b. 108,800: 28,500c. 136,000: 31,667d. 102,000: 30,400 At the beginning of the year, RJD Company establishes branches in Makati andCebu. The following transactions occur during the year.The home office purchased equipment on account for P40,000 andimmediately transfer half of each to the two branches at costThe home office transfers cash of P3,000 to the Makati branch andainu P5,000 to CebuThe company sells inventory to unrelated parties at a 40% profitand transfers inventory to its branches at cost. During the year, thehome office has sales of P175,000 to unrelated parties and transfers inventory to the Makati branch at a P140,000 price and to the Cebubranch at a P150,000 price.The branch sells inventory, all acquired from the home office, at a25% gross profit. Selected balance sheet accounts at the end of theyear are as follows:Home OfficeMakatiCebuAccts. ReceivableInventoryAccts. PayableNotes payableAccum. DepreciationP14,00036,0002,00040,0004,000P28,00045,00020,00030,00028,000P11,00038,0001,00035,0004,000During theand the Cebu branch transfers P151,000.year, the Makati branch transfer P135,000 of cash to the home officeulkati hranch and the cost of Makati branch inventory at

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Description: Question no.1: The cost of sales of the Makati Branch and the cost of sales of Makati Branch inventory at the end of the year?Choices:a. 140,000: 38,000b. 108,800: 28,500c. 136,000: 31,667d. 102,000: 30,400 At the beginning of the year, RJD Company e

Home office is the office which is the main office and there are some branches which are under the…

Business

Accounting

Question no.1: The cost of sales of the Makati Branch and the cost of sales of Makati Branch inventory at the end of the year? Choices: a. 140,000: 38,000 b. 108,800: 28,500 c. 136,000: 31,667 d. 102,000: 30,400

Question no.1: The cost of sales of the Makati Branch and the cost of sales of Makati Branch inventory at the end of the year? Choices: a. 140,000: 38,000 b. 108,800: 28,500 c. 136,000: 31,667 d. 102,000: 30,400

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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