Trial balances for the home office and the branch of the Tony Co. show the following accounts before adjustment, on December 31, 2019. The home office policy of billing the branch for merchandise is 20% above cost. Home Office Branch Unrealized intercompany inventory profit P10,800 Shipments to branch 24,000 Purchase (outsiders) Shipments from home office Merchandise inventory, December 1, 2019 P7,500 28,800 45,000 45. What part of the branch inventory as of December 1, 2019 represent purchases from outsiders? a. P9,000 b. P12,000 C. P15,000 d. P16,500

Trial balances for the home office and the branch of the Tony Co. show the following accounts before adjustment, on December 31, 2019. The home office policy of billing the branch for merchandise is 20% above cost. Home Office Branch Unrealized intercompany inventory profit P10,800 Shipments to branch 24,000 Purchase (outsiders) Shipments from home office Merchandise inventory, December 1, 2019 P7,500 28,800 45,000 45. What part of the branch inventory as of December 1, 2019 represent purchases from outsiders? a. P9,000 b. P12,000 C. P15,000 d. P16,500

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Description: Answer this with solution Trial balances for the home office and the branch of the Tony Co. show thefollowing accounts before adjustment, on December 31, 2019. The home officepolicy of billing the branch for merchandise is 20% above cost.Unrealized i

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 8E: Cost of Goods Sold, Income Statement. and Statement of Comprehensive Income Gaskin Company derives...

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