User Account

All Pages

What the unadjusted balance of the home office account

Assignment Help Accounting Basics
Reference no: EM133150866

Question - On December 31, the Investment in Branch account on the home office books of the Unlimited Company shows a balance of P168,000. The following are some of the transactions between the home office and the branch:

a. Merchandise billed at P12,300 was shipped by the home office to the branch on December 28. The merchandise is in transit and has not been recognized on the books of the branch.

b. The branch collected a home office accounts receivable of P50,000 but failed to notify the home office of this collection.

c. The home office was charged P12,800 when the branch returned merchandise to the home office on December 31. The merchandise is in transit.

d. The home office recorded incorrectly the branch net income for November at P22,500. The branch reported net income of P25,200.

What the unadjusted balance of the Home Office account?

Reference no: EM133150866

Questions Cloud

Prepare a production budget for each month : Prepare a production budget for each month in the first quarter of the year, including production in units for each month and for the quarter
What is the amount of the average daily float : These checks all have an average collection delay of 0.7 days. Given this information, what is the amount of the average daily float
What is the average amount of the disbursement float : On an average day, Foam Enterprises writes 193 checks with an average amount of $903. What is the average amount of the disbursement float
What is cost of goods sold in combined financial statements : The beginning inventory of the branch from the home office at cost is P153,125. What is cost of goods sold in combined financial statements
What the unadjusted balance of the home office account : The branch collected a home office accounts receivable of P50,000 but failed to notify the home office of this collection. What the unadjusted balance
Describe learning-future application : Complete a Reflection Paper based on some of the different nail polish systems available in the market and which one you may want to take further training on an
Recognize the unexpected rise : Concept Map 2 - Social Media, Peer Production, and Leveraging the Crowd
What order size would minimize total cost : If the supplier offered the discount at 1,500 pounds instead of 1,000 pounds, what order size would minimize total cost
What are the implications of procedures : If, for example, a genetic defect was detected before birth and it was feasible to correct that condition, many failures could be eliminated. What are the impli

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd