The Investment in Branch account on the home office books of the Active Company shows a balance of P168,000 as of December 31, 2021. The following are some of the transactions between the home office and the branch:
 

• Merchandise billed at P12,300 was shipped by the home office to the branch on December 28. The merchandise is in transit and has not been recognized on the books of the branch.
• The branch collected a home office accounts receivable of P50,000 but failed to notify the home office of this collection.
• The home office was charged at P12,800 when the branch returned merchandise to the home office on December 31. The merchandise is in transit.
• The home office recorded incorrectly the branch net income for November at P22,500. The branch reported net income of P25,200.

How much is the unadjusted balance of the Home Office account?

How much is the adjusted balance of the Branch account?

Answer rating: 100% (QA)

Unadjusted balance of the Home Office account The unadjusted balance of the Home Office account is s... View the full answer