1.ABC owns a branch in Baguio City. During the year, the home office shipped to the branch supplies costing P120,000 at a billed price of 20% above cost. The inventories of supplies at the branch were as follows: Beg Inventory, P90,000 and Ending inventory P108,000. On December 31, the home office holds inventories of P160,500 which included P10,500 held on consignment. Both locations use the periodic inventory method. Compute for the inventories in a combined Statement of Financial Position as of December 31.

2.DEF's branch submitted the following data for the current year (its first year of operation): Sales of P203,500, Debit balance for Shipment from home office of P186,120, Operating Expenses of P18,755 and a credit balance for Home Office account of P48,125. Shipment to the branch are billed at cost. The ending inventory of the branch was P25,245. Compute for the correct balance of Branch Account- to be presented in the home office books?

3.GHI Company established a sales agency in a different location. Upon the establishment of the sales agency, the home office sent merchandise samples costing P10,000 and a cash working fund of P50,000 to be maintained on the imprest basis. During the month of June, the sales agency reported to the home office sales orders. These were billed at P170,000, of which half was collected. The sales agency paid expenses of P45,800 but was reimbursed by the home office. At the end of the month there was no samples left. It was estimated that the gross profit on goods shipped to fill sales agency sales orders averaged 60% of sales. What is the net income of the sales agency for the current month?

4.

JKL Co. Operates a number of branches in Baguio. On June 30.. 2021. its XYZ branch showed a Home Office Account balance of [327,356 and the Home Office books showed a Investment branch KY2 of P25,SSD. The following information may help in reconciling both accounts. 5- Home office was charged for H.200 for merchandise returned by xvz branch (the merchandise is in transit] > A P12,0DD shipment, charged by Home Ofce to XYZ branch was actually sent to and retained by UUU Branch. ii- Home Office collects an xv: branch accounts receivable of H.600 and fails to notify the branch. h- A P15,0DO shipment; intended and charged to :00! branch was shipped to XYZ branch and retained bvthe latter. 3- A FLOOD emergency cash transfer from WW was not taken up in the Home Office books. Home office erroneously recorded an: '5 net income for May, 2821 at P165215. The branch reported a net income of \"2,675. What is the reconciled amount of the Home Office and it?! branch reciprocal amount? The following information are extracted from the books and records of MNO and its branch. The balances for December 31, 2021 are as follows: Branch Home Office Allowance for overvaluation of branch inventory 31,200 Inventory, Beg 26,000 Expenses 78,000 Purchases 39,000 Sales 260,000 Shipment to Branch 78,000 Shipment from home Office 104,000 However, no shipment in transit between home office and the branch were made. Both shipments accounts are properly recorded. The ending inventory includes merchandise acquired from the home office in the amount of P26,000 and P7,800 acquired from the home office in the amount of P26,000 and P7,800 acquired from outsiders for a total of P33,800. Compute for the realized inventory profit of home office sales made by the branch.POR operates a branch in Baguio City. The following information are provided for 2021: Home Office Branch Inventories, Beg 85,000 Branch (acquired from outsiders) 9,500 Branch (acquired from Home office) billed price 20% above cost 42,000 Inventories, End 65,000 Branch (acquired from outsiders) 6,500 Branch (acquired from Home office) acquired at 2021, billed price 30,000 Sales 365,000 174,500 Shipment to branch 90,000 Purchase from outsiders 220,000 35,000 Advertising Expenses 13,700 2,500 Salaries Expense 25,000 9,500 Rent Expense 10,000 2,000 Miscellaneous Expense 3,300 500 Shipment from Home Office 112,500 REQUIREMENT:Compute the combined net income