Reference no: EM132842779
Problem - The following were found in your examination of the interplant accounts between the Home Office and the Makati Branch:
a. Transfer of fixed assets from Home Office amount to P53,960 was not booked by the branch.
b. P10,000 covering marketing expense of another branch was charged by the Home Office to Makati branch.
c. Makati branch recorded a debit note on inventory transfers from Home Office of P75,000 twice.
d. Home Office recorded cash transfer of P65,600 from Makati branch as coming from Quezon City branch.
e. Makati branch reversed a previous debit memo from Pasig branch amounting to P10,500. Home office decided that this charge is appropriately Quezon City branch's cost.
f. Makati recorded a debit memo from Home Office of P4,650 as P4,560.
Required -
1. What is the net adjustment in the home office books that is related to Makati Branch?
2. Find the net adjustment in Makati Branch's books related to the Home office account?
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