What is the correct balance on December

Assignment Help Accounting Basics

Reference no: EM132826157

Question - Sales 203,500 cr. Shipments from home office 186,120 dr. Operating expenses 18,755 dr. Leila Co.'s Clark branch submitted the following data for 2008, its first year of operation:

Home office current 48,125 cr.

Shipments to the branch are billed at cost. The December 31 inventory of the branch was P25,245. What is the correct balance on December 31, 2008 of the branch account-current as per home office books?

a. 46,750

b. 48,125

c. 65,505

d. 71,995

Reference no: EM132826157

Questions Cloud

Which prices was the order triggered and executed : To protect her profit, one month later, Rudy places an order to sell 500 shares of GNE at 85 stop 83 limit. The ticker following entry of the order is as follow

What is the internal rate of return of investment : An investment cost $6,500, and will have a cash flow of $1,500 in the first year, $1,800 in the second year and $200 in the third year

Prepare the journal entry to record deferred tax for year : Prepare the journal entry to record deferred tax for the year ended 30 June 2021 assuming no deferred items had been raised in prior years.

What is the geometric average annual return : An investor purchased stock BUS at $82 per share. The stock had the following total returns over a 4-year period: +13.1%, - 12.3 %, +24.5%, and 17.9%

What is the correct balance on December : Shipments to the branch are billed at cost. The December 31 inventory of the branch was P25,245. What is the correct balance on December

What is t-bill cost : A T-bill with a $10,000 par has 174 days until maturity. The T-bill has a bank discount bid quote of 2.208% and ask quote of 2.198%. What is this T-bill's cost?

What is the variance in the expected rate of return of hayek : Hayek Corporation has a 0.0, the remaining probability of a -0.40 rate of return. What is the variance in the expected rate of return of Hayek Corporation?

What is the required return on the portfolio : The correlation of the portfolio and the market is 1. If the risk-free rate is 3.2%, the expected return on the market portfolio is 11%

What is the entry on December : What is the entry on December 31 assuming Jefferson uses the net method, and the obligation is still unpaid on the said date

User Account

All Pages