DDCO Co. organized its branch in Jericho since two years, the following are selected information from31/12/2019 books for the company and its branch:

investment				home office
	Dr	Cr			Dr	Cr
beginning balance	80000			beginning		80000
cash		18000		cash	18,000
shipment to branch	104000			shipment from home		104000
shipment to branch	56,000			payment payable DD		15,000
branch receivables		6000		cash	22000
operating expenses	13000			equipment	32,000

Both company and its branch use periodic system for inventory, the company shipped the goods with mark up 30%. The inventory of 1 January 2019 in branch books was $19500 and in 31 December 2019 was $3,900. The branch reporting unadjusted losses for year was$ 25280.

Required:

1- Prepare a reconciliation to adjust the home offices and investments accounts and journalize all entries required?

3- Prepare schedule of flow cost of goods in branch?

2- Journalize all closing entries of the branch in branch books and company books?