How much is the total assets in the combined statement of financial position? (Complete solution please) The

How much is the total assets in the combined statement of financial position? (Complete solution please)

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The trial balances of INTERIM TEMPORARY Co.'s home office and branch are shown below: INTERIM TEMPORARY Co. Trial balance December 31, 20x1 Cash Accounts receivable Inventory, beg. Shipments from home office Purchases Freight-in Shipments to branch Investment in branch Equipment Accumulated depreciation equipment Furniture Accumulated depreciation - furniture Accounts payable Accrued expenses Share capital Share premium Retained earnings - beg. Home office Sales Depreciation expense Utilities expense General overhead expense Various operating expenses Totals Home office Dr. (Cr.) 4,400,000 720,000 2,600,000 288,000 88,000 Branch Dr. (Cr.) 1,668,000 400,000 920,000 160,000 72,000 (920,000) 3,308,000 2,880,000 1,600,000 (288,000) (160,000) 360,000 200,000 (36,000) (20,000) (288,000) (160,000) (180,000) (100,000) (8,000,000) (2,000,000) (824,800) (3,308,000) (3,600,000) (2,000,000) 672,000 272,000 72,000 40,000 28,800 16,000 720,000 400,000 The home office and the branch have ending inventories of P1,080,000 and P600,000, respectively. The trial balances of INTERIM TEMPORARY Co.'s home office and branch are shown below: INTERIM TEMPORARY Co. Trial balance December 31, 20x1 Cash Accounts receivable Inventory, beg. Shipments from home office Purchases Freight-in Shipments to branch Investment in branch Equipment Accumulated depreciation equipment Furniture Accumulated depreciation - furniture Accounts payable Accrued expenses Share capital Share premium Retained earnings - beg. Home office Sales Depreciation expense Utilities expense General overhead expense Various operating expenses Totals Home office Dr. (Cr.) 4,400,000 720,000 2,600,000 288,000 88,000 Branch Dr. (Cr.) 1,668,000 400,000 920,000 160,000 72,000 (920,000) 3,308,000 2,880,000 1,600,000 (288,000) (160,000) 360,000 200,000 (36,000) (20,000) (288,000) (160,000) (180,000) (100,000) (8,000,000) (2,000,000) (824,800) (3,308,000) (3,600,000) (2,000,000) 672,000 272,000 72,000 40,000 28,800 16,000 720,000 400,000 The home office and the branch have ending inventories of P1,080,000 and P600,000, respectively.

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