What is the net income of the branch to be taken up

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Reference no: EM132754851

Problem 1: Fischer Company opened its Tuguegarao Branch on January 1. Merchandise shipments from home office during the month, billed at 120% of cost, is P125,000. Branch returned damaged merchandise worth P15,620. On January 31, the branch reported a net loss of P2,270 and an inventory of P84,000. What is the net income(loss) of the branch to be taken up in the books of the Home Office?

Reference no: EM132754851

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