The following are extracted from the books and records of ABC Corp. And its branch. The balances are at December 31, 2021, the third year of the corporation existence. BRANCH BOOKS HOME OFFICE BOOKS Allowance for Overvaluation Sales Expenses Shipment from Home Office 72,500 600,000 200,000 444,000 |The branch acquires all of it merchandise from the Home Office. The inventories of the Branch at bilied prices are as follows: January 1, 2021, P47,717.18 and December 31, 2021, P84,000. How much is the adjusted branch profit?
The following are extracted from the books and records of ABC Corp. And its branch. The balances are at December 31, 2021, the third year of the corporation existence. BRANCH BOOKS HOME OFFICE BOOKS Allowance for Overvaluation Sales Expenses Shipment from Home Office 72,500 600,000 200,000 444,000 |The branch acquires all of it merchandise from the Home Office. The inventories of the Branch at bilied prices are as follows: January 1, 2021, P47,717.18 and December 31, 2021, P84,000. How much is the adjusted branch profit?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following are extracted from the books and records of ABC Corp. And its branch. The balances are at December 31,
2021, the third year of the corporation existence.
BRANCH BOOKS
HOME OFFICE BOOKS
Allowance for Overvaluation
Sales
Expenses
Shipment from Home Office
72,500
600,000
200,000
444,000
The branch acquires all of it merchandise from the Home Office. The inventories of the Branch at bilied prices are as
follows: January 1, 2021, P47,717.18 and December 31, 2021, P84,000. How much is the adjusted branch profit?
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