4. ABC Company operates a branch.LוווטOperating data for the home office and thebranch for 2021 are as follows: (see imagebelow) Determine the Branch December 31,2021 Inventory at cost. *Home OfficeP 256,000210,000BranchSalesP 78,500Purchases from outsidersShipments to branch:Cost to home officeBilling price to branchExpensesInventories, January 1, 2008:Home office acquired from outsiders, at costBranch:20,00030,00040,00012,50060,00080,000Acquired from outsiders, at costAcquired from home office, at billed price(which averaged 22 ½ above cost)7,50024,500Inventories, December 31, 2008:Home Office, acquired from outsiders, at costBranch:55,000Acquired from outsiders, at costAcquired from home office, at 2008 billedprice5,50026,000Your answer5. Using the same information in #4,determine combined net income (loss) of thehome office and the branch for the year 2021.Your answer

Name: 4. ABC Company operates a branch.LוווטOperating data for the home off
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Description: 4. ABC Company operates a branch.LוווטOperating data for the home office and thebranch for 2021 are as follows: (see imagebelow) Determine the Branch December 31,2021 Inventory at cost. *Home OfficeP 256,000210,000BranchSalesP 78,500Purchases from o

Inventories, December 31,2008 Acquired from outsiders 5,500 Acquired from home office 26,000

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4. ABC Company operates a branch. +tוווש Operating data for the home office and the branch for 2021 are as follows: (see image below) Determine the Branch December 31, 2021 Inventory at cost. Branch P 78,500 20,000 Home Office Sales P 256,000 Purchases from outsiders 210,000 Shipments to branch: Cost to home office Billing price to branch Expenses Inventories, January 1, 2008: Home office acquired from outsiders, at cost Branch: 30,000 40,000 12,500 60,000 80,000

4. ABC Company operates a branch. +tוווש Operating data for the home office and the branch for 2021 are as follows: (see image below) Determine the Branch December 31, 2021 Inventory at cost. Branch P 78,500 20,000 Home Office Sales P 256,000 Purchases from outsiders 210,000 Shipments to branch: Cost to home office Billing price to branch Expenses Inventories, January 1, 2008: Home office acquired from outsiders, at cost Branch: 30,000 40,000 12,500 60,000 80,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 5MC: The moving average inventory cost flow assumption is applicable to which of the following inventory...

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