Reference no: EM132750069
CDO ENTERPRISES operates a branch in ILIGAN CITY. At the close of business on December 31, 2018, the ILIGAN CITY branch account in the home office books showed a debit balance of P200,000. The inter-office accounts were in agreement at the beginning of the year. For purposes of reconciling the inter-office accounts, the following facts were ascertained:
a. A machinery costing the home office P17,500 was picked up by the branch as P1,750 + P15,750
b. The branch did not take up insurance premium of P2,000 charged by the home office.
c. Freight charge on merchandise made by the home office fir P9,800 was recorded in the branch books as P8,900 + P900.
d. Home office credit memo representing a discount on merchandise for P1,500 was taken up twice by the branch.
e. The branch failed to take up a P2,000 debit memo from the home office representing the share of the branch in advertising
f. A remittance of P15,000 from the BUKIDNON branch was inadvertently taken up in the ILIGAN CITY branch account but was corrected before yearned
g. The home office inadvertently recorded a remittance for P13,500 from its BUTUAN CITY branch as a remittance from its ILIGAN CITY branch.
Problem 1: Determine the balance in the branch books of the Home Office account (before adjustment) as of December 31, 2018.
a. P191,350 c. P198,350
b. P164,350 d. P209,350
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