The following are selected accounts of unadjusted and unclosed trialbalance for A.Company and its branch at 31/12/2015:home(250000)(146334)40000150000(70000)accountssalesinventories 1/1purchasesshipment toshipments fromfright ininventories 31/12operating expensesinvestment in branchallowance for valuation of inventories (26500)home officebranch4500087500163343750040000900006000047500(47500)Required:1- Prepare table for inventory flow for branch2-Prepar all closing and adjusted entries required in the branch and homeoffice books.3- Prepare combined income statement for the year ended 31/12/2015.

1) Branch Account Particulars Amount Particulars Amount Opening balance 36000 Sales 146334…

The following are selected accounts of unadjusted anc palance for A.Company and its branch at 31/12/2015: accounts sales inventories 1/1 purchases shipment to shipments from fright in inventories 31/12 operating expenses investment in hranch branch home (250000)(146334) 40000 45000 150000 (70000) 87500 16334 37500 90000 60000 40000 47500

The following are selected accounts of unadjusted anc palance for A.Company and its branch at 31/12/2015: accounts sales inventories 1/1 purchases shipment to shipments from fright in inventories 31/12 operating expenses investment in hranch branch home (250000)(146334) 40000 45000 150000 (70000) 87500 16334 37500 90000 60000 40000 47500

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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Question

100%

The following are selected accounts of unadjusted and unclosed trial
balance for A.Company and its branch at 31/12/2015:
home
(250000)(146334)
40000
150000
(70000)
accounts
sales
inventories 1/1
purchases
shipment to
shipments from
fright in
inventories 31/12
operating expenses
investment in branch
allowance for valuation of inventories (26500)
home office
branch
45000
87500
16334
37500
40000
90000
60000
47500
(47500)
Required:
1- Prepare table for inventory flow for branch
2-Prepar all closing and adjusted entries required in the branch and home
office books.
3- Prepare combined income statement for the year ended 31/12/2015.

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