The following are selected accounts of unadjusted and unclosed trial balance for A. Company and its...

 

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The following are selected accounts of unadjusted and unclosed trial balance for A. Company and its branch at 31/12/2015: accounts home branch sales (250000) (146334) inventories 1/1 40000 45000 purchases shipment to 150000 (70000) shipments from fright in 87500 16334 inventories 31/12 90000 37500 operating expenses 60000 40000 investment in branch 47500 allowance for valuation of inventories (26500) home office (47500) Required: 1- Prepare table for inventory flow for branch 2-Prepar all closing and adjusted entries required in the branch and home office books. 3- Prepare combined income statement for the year ended 31/12/2015. The following are selected accounts of unadjusted and unclosed trial balance for A. Company and its branch at 31/12/2015: accounts home branch sales (250000) (146334) inventories 1/1 40000 45000 purchases shipment to 150000 (70000) shipments from fright in 87500 16334 inventories 31/12 90000 37500 operating expenses 60000 40000 investment in branch 47500 allowance for valuation of inventories (26500) home office (47500) Required: 1- Prepare table for inventory flow for branch 2-Prepar all closing and adjusted entries required in the branch and home office books. 3- Prepare combined income statement for the year ended 31/12/2015.

Answer rating: 100% (QA)

1Branch account Particulars Amount Particulars Amount Opening balance 36000 Sales 14... View the full answer