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What is unadjusted balance of the investment in davao

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Reference no: EM132594126

Anub'arak Inc. operates a number of branches in the provinces. On December 31, 2020, its Davao Branch showed a Home Office account balance of P50,224. The following data are provided by the accountants of the company:

  1. A P4,199 shipment, charged by Home Office to Davao Branch, was actually sent to and retained by Cebu Branch. It is the policy of the company to continue with the transaction that transpired.
  2. A P30,000 shipment, intended and charged to Aklan Branch was shipped to Davao Branch and retained by the latter. It is the policy of the company to continue with the transaction that transpired.
  3. A P40,000 emergency cash transfer from Cebu Branch was not taken up in the Home Office Books.
  4. Home Office collects a Davao Branch accounts receivable of P7,200 and fail to notify the branch.
  5. Home Office was charged for P2,461 for merchandise returned by Davao Branch on December 30. The merchandise is in transit.
  6. Home Office erroneously recorded Davao's branch net income for 2020 at P32,550. The branch reported a net income of P25,350.

Question 1: What is unadjusted balance of the Investment in Davao Branch account in the Home Office's books on December 31, 2020?

Reference no: EM132594126

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