Reference no: EM132643045
The Zamboanga branch of Casio Corporation submitted the following balance as of 30 June 2017:
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DEBIT
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CREDIT
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Cash
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P28,600
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Accounts Receivable
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173,800
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Shipments from home office
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462,000
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Home Office - Current
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324,500
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Sales
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369,600
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Expenses
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29,700
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TOTAL
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P694,100
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P694,100
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On December 31, 2017, the investment in Branch account on the home office's books has a balance of P102,000. In analyzing the activity in each of these accounts for December, you find the following differences:
a. A P12,000 branch remittance to the home office initiated on December 27, 2017, was recorded on the home office books on January 3, 2018.
b. A home office inventory shipment to the branch on December 28, 2017, was recorded by the branch on January 4, 2018; the billing of P24,000 was at cost.
c. The home office incurred P14,000 of advertising expenses and allocated P6,000 of this amount to the branch on December 15, 2017. The branch has not recorded this transaction.
d. A branch customer erroneously remitted P3,600 to the home office. The home office recorded this cash collection on December 23, 2017. Meanwhile, back at the branch, no entry has been made yet.
e. Inventory costing P51,600 was sent to the branch by the home office on December 10, 2017. The billing was at cost, but the branch recorded the transaction at P40,800.
Question 1: Compute the balance as of December 31, 2017 of the Unadjusted Balance of the Home Office Account
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Compute the balance as of december
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