PROBLEM 1 HO transferred merchandise to Branch A at cost of P50.000. Home office paid the...

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PROBLEM 1 HO transferred merchandise to Branch A at cost of P50.000. Home office paid the freight of P2.000 on the transfer. Subsequently HO ordered the transfer of the merchandise to Branch B. Branch A paid P3,000 to transfer the merchandise If transfer would have been from the HO to Brach B. freight would have cost only P3.500 Date of first transfer Date of re- transfer to new branch PROBLEM 2 Branch A Branch B . Home office On September 1. 2018, BETTER IN TIME Co. established two branches Manila and Quezon City Branches. The home office transferred P80,000 worth of cash and P350,000 worth of inventory to its Manila Branch and instructed Manila to transfer 3/4 of the goods and cash received to Quezon City. In addition on November 1,2018 shipments from the home office were received by Manila amounting to P125,000 and the branch paid freight costs amounting to P6.500 3/5 of the said shipments were sold to outsiders On December 1, 2018 Manila transferred half of the remaining November shipments from the home office to Quezon City, with the Quezon City branch paying freight costs of P2,500 Had the merchandise been shipped from the home office to Quezon City branch only P1,900 worth of freight would had been incurred. Journalize the above transactions in the books of the branches and the home office - T PROBLEM 3 The B Corporation has a branch operation in Siargao. Following is a listing of the components of the Investment in branch balance followed by the Home office account as recorded by the branch. Siargao branch composition Jan. 1 Jan. 2 Mar. 2 Home Apr. 1 July 2 Sept 5 Oct 6 Nov. Dec 31 4 based on financial records of home office: Beginning balance Cash received Inventory transferred Salary allocation Inventory transferred Insurance expense allocation Cash received Inventory transferred Depreciation allocation End-of-year balance (debit) Beginning balance. Inventory received Inventory received Salary Allocation Cash transferred Inventory received Insurance expense allocation Cash transferred Inventory received Cash transferred P 62.000 (16,000) 42,000 9.200 End-of-year balance (credit) 36,000 office account Composition based on financial records of branch Jan. 1 Jan 2 Mar. 5 Apr. 5 Apr. 8 July Sept 10 6 Oct 4 Nov. 8 Dec 31 1,000 (21,000) 28,000 (3.000) P 138.200 P (35,000) (11,000) (42.000 ) ( 9,000) 45,000 (48,000) (1,000) 21,000 (28.000 ) 15,000 P (93.000) A cash transfer received during the year was credited by the home office to Miscellaneous Income. The bookkeeper for the branch incorrectly recorded two amounts a salary allocation and an inventory shipment PROBLEM 1 HO transferred merchandise to Branch A at cost of P50.000. Home office paid the freight of P2.000 on the transfer. Subsequently HO ordered the transfer of the merchandise to Branch B. Branch A paid P3,000 to transfer the merchandise If transfer would have been from the HO to Brach B. freight would have cost only P3.500 Date of first transfer Date of re- transfer to new branch PROBLEM 2 Branch A Branch B . Home office On September 1. 2018, BETTER IN TIME Co. established two branches Manila and Quezon City Branches. The home office transferred P80,000 worth of cash and P350,000 worth of inventory to its Manila Branch and instructed Manila to transfer 3/4 of the goods and cash received to Quezon City. In addition on November 1,2018 shipments from the home office were received by Manila amounting to P125,000 and the branch paid freight costs amounting to P6.500 3/5 of the said shipments were sold to outsiders On December 1, 2018 Manila transferred half of the remaining November shipments from the home office to Quezon City, with the Quezon City branch paying freight costs of P2,500 Had the merchandise been shipped from the home office to Quezon City branch only P1,900 worth of freight would had been incurred. Journalize the above transactions in the books of the branches and the home office - T PROBLEM 3 The B Corporation has a branch operation in Siargao. Following is a listing of the components of the Investment in branch balance followed by the Home office account as recorded by the branch. Siargao branch composition Jan. 1 Jan. 2 Mar. 2 Home Apr. 1 July 2 Sept 5 Oct 6 Nov. Dec 31 4 based on financial records of home office: Beginning balance Cash received Inventory transferred Salary allocation Inventory transferred Insurance expense allocation Cash received Inventory transferred Depreciation allocation End-of-year balance (debit) Beginning balance. Inventory received Inventory received Salary Allocation Cash transferred Inventory received Insurance expense allocation Cash transferred Inventory received Cash transferred P 62.000 (16,000) 42,000 9.200 End-of-year balance (credit) 36,000 office account Composition based on financial records of branch Jan. 1 Jan 2 Mar. 5 Apr. 5 Apr. 8 July Sept 10 6 Oct 4 Nov. 8 Dec 31 1,000 (21,000) 28,000 (3.000) P 138.200 P (35,000) (11,000) (42.000 ) ( 9,000) 45,000 (48,000) (1,000) 21,000 (28.000 ) 15,000 P (93.000) A cash transfer received during the year was credited by the home office to Miscellaneous Income. The bookkeeper for the branch incorrectly recorded two amounts a salary allocation and an inventory shipment