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    Adjusted Trial Balances Home Office Branch Income Statement

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    Ehab hoba
    This document contains adjusted trial balances for the home office and branch of a company. It includes income statement accounts showing sales, expenses, and net income for each location. It also includes balance sheet accounts such as cash, receivables, inventory, equipment and various liabilities. The statement of retained earnings reconciles beginning retained earnings to the net income and dividends declared for each period.

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    Adjusted Trial Balances Home Office Branch Income Statement

    Uploaded by

    Ehab hoba
    13 views3 pages
    This document contains adjusted trial balances for the home office and branch of a company. It includes income statement accounts showing sales, expenses, and net income for each location. It also includes balance sheet accounts such as cash, receivables, inventory, equipment and various liabilities. The statement of retained earnings reconciles beginning retained earnings to the net income and dividends declared for each period.

    Original Description:

    Trdansactions between home office and branches

    Original Title

    Excel 2acc Ho Branch

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    This document contains adjusted trial balances for the home office and branch of a company. It includes income statement accounts showing sales, expenses, and net income for each location. It also includes balance sheet accounts such as cash, receivables, inventory, equipment and various liabilities. The statement of retained earnings reconciles beginning retained earnings to the net income and dividends declared for each period.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    13 views3 pages

    Adjusted Trial Balances Home Office Branch Income Statement

    Uploaded by

    Ehab hoba
    This document contains adjusted trial balances for the home office and branch of a company. It includes income statement accounts showing sales, expenses, and net income for each location. It also includes balance sheet accounts such as cash, receivables, inventory, equipment and various liabilities. The statement of retained earnings reconciles beginning retained earnings to the net income and dividends declared for each period.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 3

    Adjusted Trial Balances

    Home Office Branch


    Dr (Cr) Dr (Cr)
    Income Statement
    Sales (400,000) (80,000)
    Cost of goods sold 235,000 45,000
    Operating expenses 90,000 23,000
    Net Income (to statement of
    retained earnings below) 75,000 12,000
    Totals 0 0

    Statement of Retained Earnings


    Retained earnings, beginning of yea (70,000)
    Net (Income) (from income statemen (75,000) (12,000)
    Dividends declared end of year (to
    Retained earnings, 40,000
    balance sheet below)
    Totals

    Balance Sheet
    Cash 25,000 5,000
    Trade accounts receivable (net) 39,000 18,000
    Inventories 45,000 15,000
    Investment in Branch 26,000
    Equipment 150,000
    Accumulated depreciation of equipm (10,000)
    Trade accounts payable (20,000)
    Home office (26,000)
    Common stock, $ 10 par (150,000)

    Retained earnings (from statement


    of retained earnings above)
    Cash
    Trade accounts receivable (net)
    Inventories
    Investment in Branch
    Equipment
    Accumulated depreciation of equipment
    Trade accounts payable
    Home office
    Common stock, $ 10 par
    Retained earnings
    Sales
    Cost of goods sold
    Operating expenses
    Dividends declared
    Allowance for overvaluation of inventories
    Adjusted Trial Balances
    Home Office Branch
    Dr (Cr) Dr (Cr)
    25,000 5000
    39,000 18000
    45,000 22500
    56,000
    150000
    -10000
    -20000
    -56,000
    -150000
    -70000
    -400000 -80000
    235000 67500
    90000 23000
    40000
    -30000

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