A reconciliation of the Investment in Tarlac Branch account of Manila Company and the Home Office accountcarried in the books of the branch shows the following discrepancies at December 31, 2021:> A credit for merchandise allowance for P3,000 was taken by the branch as P3,600.> A charge by the branch of P5,500 for an advance taken by the president when he visited the branch hasnot yet been recorded by the home office. 3. The branch has not taken up P9,000 covered by a debitmemo from the home office as share in advertising expenses.The Investment in Tarlac Branch account in the home office books had a debit balance of P430,000 atDecember 31, 2021. The reciprocal accounts were in agreement at the beginning of the year. What is theunadjusted balance of the Home Office account in the books of the branch on December 31, 2021?

Reconciliation Statement- A reconciliation statement refers to the statement which is prepared to…

The Investment in Tarlac Branch account in the home office books had a debit balance of P430,000 at December 31, 2021. The reciprocal accounts were in agreement at the beginning of the year. What is the unadjusted balance of the Home Office account in the books of the branch on December 31, 2021?

The Investment in Tarlac Branch account in the home office books had a debit balance of P430,000 at December 31, 2021. The reciprocal accounts were in agreement at the beginning of the year. What is the unadjusted balance of the Home Office account in the books of the branch on December 31, 2021?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 23Q: British Imports is unable to collect on a note worth $215,000 that has accumulated interest of $465....

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