Can you explain to me how I'm going to get it?

262 Problem 8-10 The Wesley Company of Baguio City operates a branch in Dagupan. A branch balance MUL sheet on December 31, 2013 showed the following balances: jastruction: Ch Cash ADVANCED ACCOUNTING Volume Accounts receivable P 35,000 P122,000 The following in Less: Allowance for bad debts 8,500 113,500 Merchandise inventory 165,000 Selected bala Prepaid expenses 3,500 Equipment P38,500 Less: Accumulated depreciation 27,000 11,500 Invent Total assets P328,500 Impres Accounts payable P 20,000 Invent Accrued expenses 6,000 Accoun Home office 302,500 Mercha Liabilities P328,500 Accoun Cash co Branch transactions during 2014 are summarized as follows: Sales 1. Sales on account, P400,000 Cash ex 2. Purchases on account, P105,000 3. Goods received from home office, billing at cost, P200,000 All sales, collectic 4. Collections on account, P380,000 and collections are se 5. Payments on account, P101,000 mprest fund and imm 6. Bad accounts written off, P6,000 count. All expenses 7. Cash remittances to home office, P150,000 8. Expenses paid, P124,000 The profit of Bran 9. Expenses paid by home office and charged to branch, P8,000 a. P16,000 10. Year-end adjusting data: b. P21,000 Merchandise on hand, P194,000 Prepaid expenses, December 31, P4,500 The balance of the Accrued expense, December 31, P4,000 P80,000 Receivables estimated to be uncollectible, December 31, P8,000 0. P64,000 Depreciation for 2014, P6,000 The balance of the Required: a. Give the entries to be made by the branch for the year to record the transactions 2. P70,000 and to adjust and close the accounts at the end of the year. P64,000 b. Prepare a statement of financial position, a statement of profit or loss, and a statement of changes in the home office account for the branch for the year ended the balance of the b December 31, 2014. C. Give all the entries that would be made by the home office in 2014 affecting the 2021/02/04 10:54 branch account