Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Prestige Buy Company has established a branch in Serendra by sending goods costing P46,225 and P20,000 cash on July 1, 2018. Home office initiated transactions for the remainder of the year are found below. At the end of the year, the company's controller has found out that the accounting staff assigned in the recording the transactions between the home office and the branches had failed to record all the transactions initiated by the branch. Because of this, there is a significant discrepancy between the balances of the reciprocal accounts.
For the purpose of reconciling the reciprocal accounts, the controller has instructed the Serendra branch accountant to send a copy of the Home Office Current general ledger to the home office.
Home Office Current
8/3
Supplies and equipment acquisition
P105,00 0
7/1
Goods from Home Office
P46,225
11/5
Cash remittance
19,500
Cash
20,000
12/20
Return of goods to HO
12,250
8/15
Collections of HO's AR
28,400
11/10
57,500
12/4
12,575
Balance
P27,950
Required:
Question 1: What is Unadjusted balance of Investment in Serendra branch account?
He elects the straight-line method for cost recovery. Andre does not elect immediate expanding under 179. He does not claim any available additional first-year depreciation.
Diane is a CFO at We Do What We Want, Inc. She was just instructed by her boss, the CEO, to accelerate the recording of revenue into an earlier year to meet financial analysts' earnings projections. The House Subcommittee on Oversight and Investigati..
how do get Common Stock with the given information. Prepare a 2018 balance sheet for Rogers Corp. based Cash = $139,000; Patents and copyrights = $630,000;
Determine What is the expected return on asset? Interpret the number 1.2. the expected risk premium on the market portfolio is 7%. An asset has a beta of 1.2.
Which he said each of us possesses to varying degrees, and which characterise our motivational behaviour; what are these three motivational needs
Assuming that a periodic inventory system is used, and operating expenses of $1728, what is the company's after-tax income using LIFO?
Explain the effects of government borrowing regarding Ricardo's Equivalence Theorem and give the main arguments against this theorem?
A gift tax of $2,800 was paid by the aunt. Barbara sold the stock in the following year for $29,000. What is Barbara’s basis in the property for the sale.
Tristar Production Company began operations on September 1, 2013. Listed below are a number of transactions that occurred during its first four months of operations. On September 15, a truck was donated to the corporation. Similar trucks were selling..
Advise the company whether the machinery should be purchased or not on the basis of the Net Present Value
Webster Company produces 35,000 units of product A, 30,000 units of product B, and 14,500 units of product C from the same manufacturing process at a cost of $385,000. A and B are joint products, and C is regarded as a by-product. What is the value o..
Bob deposits $X at the end of each year for 20 years into an account earning an effective annual rate of 4%. At the end of year 20, he transfers the accumulated amount to an account earning a nominal rate of 6% compounded monthly. He withdraws $500 a..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd