1. On December 31, 2009, merchandise billed at P5,800 was in transit from the home office to the branch. At close of business on December 31, 2009. In preparing a reconciliation between Home office account and Investment in branch account, adjustment would be

Group of answer choices

a. Deduction to Home office account

b. Deduction to Home office account

c. Addition to Home office account

d. Addition to Investment in branch account

2. On December 31, 2009, merchandise billed at P5,800 was in transit from the home office to the branch. At close of business on December 31, 2009. In preparing a reconciliation between Home office account and Investment in branch account, adjustment would be

Group of answer choices

a. Deduction to Home office account

b. Deduction to Home office account

c. Addition to Home office account

d. Addition to Investment in branch account

3. A home office inventory shipment to Ilocos branch on December 29, 2008, was recorded by the branch on January 3, 2009; the billing of P47,000 was at cost, At close of business on December 31, 2008. In preparing a reconciliation between Home office account and Investment in branch account, adjustment would be:

A. Addition to Home office account

B. Deduction to Investment in branch account

C. Deduction to Home office account

D. Addition to Investment in branch account

4. A P14,500 branch remittance to the home office initiated on December 28, 2008, was recorded on the home office books on January 2, 2009. At close of business on December 31, 2008. In preparing a reconciliation between Home office account and Investment in branch account, adjustment would be

Group of answer choices

a. Deduction to Investment in branch account

b. Deduction to Home office account

c. Addition to Investment in branch account

d. Addition to Home office account

5. Freight charge on merchandise made by the home office for P2,715 was recorded in the branch books as P7,215. At close of business on December 31, 2008.. In preparing a reconciliation between Home office account and Investment in branch account, adjustment would be

Group of answer choices

a. Deduction to Home office account

b. Deduction to Investment in branch account

c. Addition to Investment in branch account

d. Addition to Home office account