San opening a branch in other city in the country, the following is unadjusted trial balance for san and its branch for the year ended 31/12/2019

Trail balance 31/12/2019:

                                                   San                      branch        

Cash	22000	10175
account /rec.	12000	7550
Investment in Branch	60000
Inventories1/1/2019	23000	11000
Allowance for valuation	(1000)
Prepaid rent	8000	8450
Equipment	177000	32450
Ordinary shares	(200,000)
Retained earning1/1/2019	(34,000)
Dividend	15000
Account payable	(35000)	(2725)
Home office		(51000)
Purchases	190,000
Shipment from home office		104500
Shipment to branch	(110,000)
Sales	(169000)	(144700)
Operating expenses	42000	24300
total	0000	0000

The following information are available for you not considered in the trial balance:

1- the branch sent 1700$ cash for the home office in 31/12/2019.

2- the home office replenished the branch petty cash in 31/12/2019 by 1800$ in transit.

3- the home office shipped the goods for the branch at markup %10.

4- goods in transit for branch at cost was $5000.

5- ending inventory in san company was $30,000 and 9,900 in branch

Required:

1-Prepare the entries required to reconcile the home office and investment accounts?

2- prepare adjusted trial balance for san and its branch?

3- prepare a working paper for combined financial statement for san company in 31/12/2019?

4- prepare closing entries in branch and san books?

Answer rating: 100% (QA)

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