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What is the related journal entries for the whilshire branch

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Among the journal entries of the home office of Watt Corporation for the month of January 2005, were the following:

2005

Jan. 2 Investment in Wilshire Branch 100,000

Inventories 80,000

Allowance for Overvaluation of Inventories: 20,000

Wilshire Branch To record merchandise shipped to branch.

18 Equipment: Wilshire Branch 5,000

Investment in Wilshire Branch 5,000

To record acquisition of equipment by branch for cash.

31 Investment in Wilshire Branch 8,000

Operating Expenses 8,000

To record allocation of operating expenses to branch.

Question 1: What is the related journal entries for the Whilshire Branch of Watt Corporation: the branch uses the perpetual inventory system.

Reference no: EM132539415

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