Solution-Which freight on shipments to branch paid by the

Which freight on shipments to branch paid by the branch

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Reference no: EM132781254

Problem 1: The freight on shipments to branch paid by the branch is recorded by the home office as

a. Debit to freight-in

b. Credit to freight-in

c. Credit to investment account

d. Not recorded

Problem 2: Under fair value option, non-controlling interest would include its share of the following, except --

a. Book value of net assets acquired

b. Over and undervaluation of net assets due to change in fair value

c. Goodwill

d. Bargain purchase gain

Problem 3: If investment in branch account is greater than home office account, the home office might done the following, except

a. Allocated an expense to the branch, that the latter has not yet recorded

b. Shipped a merchandise to branch in transit

c. Recorded a depreciation expense

d. Received a return of inventory from the branch

Reference no: EM132781254

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Which freight on shipments to branch paid by the branch

Reference no: EM132781254

Reference no: EM132781254

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