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What is the real net income of zamboanga branch

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Reference no: EM132643037

The Zamboanga branch of Casio Corporation submitted the following balance as of 30 June 2017:

 

DEBIT

CREDIT

Cash

P28,600

 

Accounts Receivable

173,800

 

Shipments from home office

462,000

 

Home Office - Current

 

324,500

Sales

 

369,600

Expe0nses

29,700

 

TOTAL

P694,100

P694,100

Question 1: Zamboanga reported an ending inventory of P138,600. Shipments are billed at a mark-up of 40% on cost. What is the real net income of Zamboanga branch?

Question 2: What is the reported net income of Zamboanga branch?

Reference no: EM132643037

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