Home Office Branch Sales P 256,000 P 78,500 Purchases from outsiders 210,000 20,000 Shipments to branch: Cost to home office 30,000 Biling price to branch Expenses Inventories, January 1, 2008: Home office acquired from outsiders, at cost 40,000 12,500 60,000 80,000 Branch: Acquired from outsiders, at cost Acquired from home office, at billed price (which averaged 22 % above cost) 7.500 24,500 Inventories, December 31, 2008: Home Office, acquired from outsiders, at cost 55,000 Branch: Acquired from outsiders, at cost Acquired from home office, at 2008 billed price 5,500 26,000

Home Office Branch Sales P 256,000 P 78,500 Purchases from outsiders 210,000 20,000 Shipments to branch: Cost to home office 30,000 Biling price to branch Expenses Inventories, January 1, 2008: Home office acquired from outsiders, at cost 40,000 12,500 60,000 80,000 Branch: Acquired from outsiders, at cost Acquired from home office, at billed price (which averaged 22 % above cost) 7.500 24,500 Inventories, December 31, 2008: Home Office, acquired from outsiders, at cost 55,000 Branch: Acquired from outsiders, at cost Acquired from home office, at 2008 billed price 5,500 26,000

Name: ABC Company operates a branch. Operating data for the home office and
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Description: ABC Company operates a branch. Operating data for the home office and the branch for 2021 are as follows: (see image below) Determine the Branch December 31, 2021 Inventory at cost. Home OfficeBranchSalesP 256,000P 78,500Purchases from outsiders210,0

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter2: Asset And Liability Valuation And Income Recognition

Section: Chapter Questions

Problem 5QE

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