Selected balances from ABC CO.’s branch A and branch B are: A Branch B Branch Beginning inventory 1,920 2,100 Petty cash fund 100 200 Ending inventory 1,200 1,900 Accounts receivable, beginning 4,350 5,500 Shipment from home office 4,700 6,100 Accounts receivable, end 5,330 7,000 Cash collections 7,000 8,500 Sales 8,000 10,000 Cash Expenses 1,430 2,100 All sales, collections, and expenses are handled at the branch. All cash received from sales and collections are sent directly to the Home Office. Expenses are pald by the branch from the Imprest fund and immediately reimbursed by the Home Offlice and credited to the Home Office account. All expenses paid by the branch are recorded in the books of the branch. Compute the TOTAL increase or (decrease) for the Home Office account balances on December 31, 2021
Selected balances from ABC CO.’s branch A and branch B are:
|
A Branch |
B Branch |
|
|
Beginning inventory |
1,920 |
2,100 |
|
Petty cash fund |
100 |
200 |
|
Ending inventory |
1,200 |
1,900 |
|
Accounts receivable, beginning |
4,350 |
5,500 |
|
Shipment from home office |
4,700 |
6,100 |
|
Accounts receivable, end |
5,330 |
7,000 |
|
Cash collections |
7,000 |
8,500 |
|
Sales |
8,000 |
10,000 |
|
Cash Expenses |
1,430 |
2,100 |
All sales, collections, and expenses are handled at the branch. All cash received from sales and collections are sent directly to the Home Office. Expenses are pald by the branch from the Imprest fund and immediately reimbursed by the Home Offlice and credited to the Home Office account. All expenses paid by the branch are recorded in the books of the branch.
Compute the TOTAL increase or (decrease) for the Home Office account balances on December 31, 2021.
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