Question
4.Selected balances from the Cebu Company's Branch A and B are as follows: Inventory, Jan. 1, 2010.................................................................. Imprest Branch Fund.............................................................................. Inventory, Dec. 31, 2010............................................................... A/Receivable,
4.Selected balances from the Cebu Company's Branch A and B are as follows:
Inventory, Jan. 1, 2010..................................................................
Imprest Branch Fund..............................................................................
Inventory, Dec. 31, 2010...............................................................
A/Receivable, Jan. 1, 2010.........................................................
Merchandise from Home Office...................................................
A/Receivable, Dec. 31, 2010......................................................
Cash Collections.......................................................................................
Sales........................................................................................................................
Cash Expenses................................................................................................
Branch A
P21,000
2,000
19,000
55,000
61,000
70,000
85,000
100,000
21,000
Branch B
P19,000
1,500
12,000
43,500
47,000
53,500
70,000
80,000
14,300
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 paid by the branch from the imprest fund and immediately reimbursed by the Home Office and credited to the Home Office account. All expenses paid by the branch are recorded in the books of the branch. Compute the balance of the Home Office account on January 1, 2010.
Branch A
Books
Branch B
Books
A.
P78,000
P67,000
B.
75,000
64,000
C.
64,000
78,000
D.
78,000
64,000
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