FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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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