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a. 63,000 How much are the net adjustments - Debit (Credit) - on the b. 66,000 c. 87,500 (RPCPA) d. 84,000 following accounts? Bacolod Branch Current Account a. (75,700) Home Office Current Account (20,950) 12. Entity X bills, its branch for merchandise shipments at 140% b. 75,700 cost. The branch reported the following: (20,950) From home office (@ billed price) C. (55,700) 75,000 Merchandise, Jan. 1 7,560 d. (65,700) (74,000) Shipments received 28,280 (RPCPA) Merchandise, Jan. 31 8,400 Use the following information for the next two questions: What should be the balance of the allowance account for ABC Co. bills its branch for merchandise at 140% of cost. At the overvaluation of the branch inventory at January 31? end of its first month, the branch submitted the following data: a. 2,400 b. 2,160 C. 8,080 d. 10,000 Merchandise from home office (at billed price) 98,000 (RPCPA) Merchandise purchased locally by branch 40,000 Inventory, Dec. 31 of which P7,000 are of local purchase 28,000 13. The following information pertains to a home office and its Net sales for the month branch for the year 20x1: 180,000 Home office Branch Sales 9. How much is the branch's ending inventory at cost? $65,000 174,500 Shipments to branch 90,000 a. 92,000 b. 20,000 c. 22,000 d. 23,800 Purchases from outsiders 220,000 35,000 Advertising expenses 13,700 2,500 10. How much is the branch's gross profit in so far as the home Salaries and commission expense 35,000 9,500 office is concerned? Rent expense 10,000 2,000 a. 70,000 b. 72,000 c. 90,000 d. 92,000 Miscellaneous expense 3,300 500 Shipments from home office 112,500 11. Entity A bills its branch for merchandise shipments at 125% of Inventory, beg. cost. As of cut-off date, Dec. 31, 20x0, the following data were Home office 85,000 - Branch: available: From outside From outsiders 9,500 From home office purchases From HO billed @ 20% above cost 42,000 (@ billed price) Inventory, end. Merchandise, Dec. 1 300,000 120,000 360,000 Home office 65,000 Additions during Dec. 450,000 Merchandise, Dec. 31 420,000 150,000 - Branch: From outsiders 6,500 From HO billed @ 20x1 billing rate 30,000 The branch returned P15,000 merchandise to the home office, acquired at billed price. How much is the amount of the allowance How much is the combined profit ? for overvaluation account that was realized in Dec.? a. 250,000 b. 174,000 c. 111,000 d. 63,000