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What unadjusted balance of the investment in branch

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Reference no: EM133003852

The interoffice account between the main office of Maldita Company and its branch in Kilo was adjusted to P61,340 as of December 31, 2020. The transactions between the home office and the branch for 2021 include the following:

  • Shipments to branch (including goods still in transit as of December 31, 2021 of P44,000) P320,000
  • Remittance by branch (P14,400 of which was still in transit as of December 31, 2021) 110,000
  • Branch receivable collected by the home office, net of P200 discount, not yet recorded by branch 17,800
  • Home office expenses paid by branch, not yet recorded by the home office 11,400

Problem 1: The unadjusted balance of the Investment in Branch (Home Office Books) and the Home Office Current (Branch Books) accounts as of December 31, 2021 are

a. Investment in Branch (HO Books), P198,140; Home Office Current (Br. Books), P256,540

b. Investment in Branch (HO Books), P256,540; Home Office Current (Br. Books), P198,140

c. Investment in Branch (HO Books), P267,940; Home Office Current (Br. Books), P215,940

d. Investment in Branch (HO Books), P215,940; Home Office Current (Br. Books), P267,940

Reference no: EM133003852

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