a. The home office inadvertently faxed a note to the branch informing the branch of a collection of one of the homeoffice's customers amounting to P23,000. This amount was ignored by the branch's accountant.b. The branch returned merchandise to the home office worth P 256,000. This was not the item ordered by the branch.The accountant of the home office was not able to update the records pertaining to this transaction.c. Merchandise worth P66,340 is still in transit to the branch.d. The branch accountant recorded a merchandise worth P245,000 as P254,000.e. The home office collected an account receivable of the branch amounting to P35,670. The home officeaccountant repeatedly sent a note to the branch regarding this collection. The branch, in error, recorded theamount twice in its books.f.The branch accountant became aware of the transposition error he committed when he recorded the receipt ofthe merchandise and made the correcting entry accordingly.g. The branch's net income was not recorded by the home office. The branch reported a net income of P366,920.Compute for the unadjusted balance of the Home Office Current account.

The unadjusted balance in the books of home office of branch account is P 567980. Based on the data…

e home office inadvertently faxed a note to the branch informing the branch of a collec fice's customers amounting to P23,000. This amount was ignored by the branch's account e branch returned merchandise to the home office worth P 256,000. This was not the item e accountant of the home office was not able to update the records pertaining to this tro erchandise worth P66,340 is still in transit to the branch. e branch accountant recorded a merchandise worth P245,000 as P254,000. e home office collected an account receivable of the branch amounting to P35 ccountant repeatedly sent a note to the branch regarding this collection. The branch mount twice in its books. e branch accountant became aware of the transposition error he committed when he

e home office inadvertently faxed a note to the branch informing the branch of a collec fice's customers amounting to P23,000. This amount was ignored by the branch's account e branch returned merchandise to the home office worth P 256,000. This was not the item e accountant of the home office was not able to update the records pertaining to this tro erchandise worth P66,340 is still in transit to the branch. e branch accountant recorded a merchandise worth P245,000 as P254,000. e home office collected an account receivable of the branch amounting to P35 ccountant repeatedly sent a note to the branch regarding this collection. The branch mount twice in its books. e branch accountant became aware of the transposition error he committed when he

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 18MC: You returned damaged goods to C.C. Rogers Inc. and received a credit memo for $250. Which journal(s)...

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