The trial balance of Winston Corporation Home Office and its branch on December 31, 2014 is given as follows: Debits WINSTON CORPORATION Trial Balance December 31, 2014 Cash Accounts receivable Inventory, January 1, 2014 Investment in branch Equipment (net) Purchases Shipments from home office Expenses Totals Home office P 30,000 45,000 37,500 60,000 75,000 450,000 Branch P 6,000 24,000 15,000 120,000 75,000 15,000 P772,500 P180,000

The trial balance of Winston Corporation Home Office and its branch on December 31, 2014 is given as follows: Debits WINSTON CORPORATION Trial Balance December 31, 2014 Cash Accounts receivable Inventory, January 1, 2014 Investment in branch Equipment (net) Purchases Shipments from home office Expenses Totals Home office P 30,000 45,000 37,500 60,000 75,000 450,000 Branch P 6,000 24,000 15,000 120,000 75,000 15,000 P772,500 P180,000

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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Home office and HIJ Branch