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

Inventory Valuation
Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in…
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The following is an overview of the PT A balance balance as per December 31, 2013 Home office Branch Debit. 530.000.000 165.000.000 Other assets 50.000.000 45.000.000 Inventory, January 1, 2013 200.000.000 Branch 500.000.000 Purchase 240.000.000 Shipping from headquarters 120.000.000 50.000.000 Cost 100.000.000 Dividend 1.500.000.000 500.000.000 Total Debit Credit Other Liability 90.000.000 25.000.000 Capital stock 500.000.000 Retained earning 100.000.000 Home Office 175.000.000 Unrealized profits on branch inventory 10.000.000 Sale 537.500.000 300.000.000 Shipping to branches 200.000.000 Branch profit 62.500.000 Tota Credit 1.500.000.000 500.000.000 Additional information 1. The head office sends goods to branches at a price of 120% above the central base price 2. Inventory December 31, 2013 is $ 70,000,000 for headquarters and $ 60,000,000 for branches. The branch supply is assessed at the transfer price Make it 1. Consolidated balnce sheet PT A 31 Dcember 2013 2. Consolidated income statement for PT A, 31 December 2013
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Transcribed Image Text:The following is an overview of the PT A balance balance as per December 31, 2013 Home office Branch Debit. 530.000.000 165.000.000 Other assets 50.000.000 45.000.000 Inventory, January 1, 2013 200.000.000 Branch 500.000.000 Purchase 240.000.000 Shipping from headquarters 120.000.000 50.000.000 Cost 100.000.000 Dividend 1.500.000.000 500.000.000 Total Debit Credit Other Liability 90.000.000 25.000.000 Capital stock 500.000.000 Retained earning 100.000.000 Home Office 175.000.000 Unrealized profits on branch inventory 10.000.000 Sale 537.500.000 300.000.000 Shipping to branches 200.000.000 Branch profit 62.500.000 Tota Credit 1.500.000.000 500.000.000 Additional information 1. The head office sends goods to branches at a price of 120% above the central base price 2. Inventory December 31, 2013 is $ 70,000,000 for headquarters and $ 60,000,000 for branches. The branch supply is assessed at the transfer price Make it 1. Consolidated balnce sheet PT A 31 Dcember 2013 2. Consolidated income statement for PT A, 31 December 2013
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