8. FFF Company just opened a branch in Baguio City this February of the current year. Summary of transactions for the 1st month of operations follows: Baguio Branch received P15,750 cash from home office to start its operations. Home office shipped merchandise to the branch costing P100,000 at 25% mark-up on cost, of which 20% have not yet received by the branch. Branch purchases from other suppliers amounted to P89,250. Branch sales for the month amounted to P245,000. Home office debit memo for P3,500 representing the branch's share on advertising expenses was recorded only by the branch on the 3rd day of March. Branch operating expenses of P61,250 were paid by the home office. Branch remitted P29,750 to the home office but the home office recorded it only in March. The inventory on hand of the branch is: from outsider - P21,000 and from HO - P37,500. Determine the following: a. Unadjusted and adjusted balance of Home Office account b. Unadjusted and adjusted balance of Branch account c. Net Income reported by the Branch d. True Income of the Branch 9. The Manila branch of GGG Company is billed for merchandise at 20% gross profit rate. The branch sells them at 25% above cost. On March 17, the entire branch's merchandise was destroyed by fire. The branch records that were recovered show: Inventory, beginning (at billed price) Shipment, Jan 1 - March 17 (at billed price) Purchases from outsiders all were sold at 20% mark-up on cost Sales Sales returns Determine the following: a. Branch beginning inventory at cost b. Cost of merchandise destroyed by fire 165,000 100,000 7,500 169,000 3,750 10. The Home Office shipped merchandise to Baguio Branch costing P10,000 and paid a freight of P650. Baguio Branch was subsequently instructed to transfer merchandise to Laoag Branch wherein Baguio Branch paid P200 freight. If the shipment was directly shipped from Home Office to Laoag Branch, the freight cost would have amounted to P700. Determine the following: a. Entries to record the transactions b. Entries to record the transactions assuming the freight from Home Office to Laoag is P1,000.