What is the correct balance on December 31, 2021 of the Branch Current account per home office books?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Cebu branch of Nimbus Company submitted the following data for 2021, its first year of operation:

 

Sales                                                   203, 500

Shipments from home office             186, 120

Operating expenses                             18, 755

Home Office Current                            48. 125

 

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, 2021 of the Branch Current account per home office books?

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