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Question: On January 1, 19X6, the Barton Co. opened a new branch in a

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On January 1, 19X6, the Barton Co. opened a new branch in a

neighboring city. A summary of transactions Enter question
for the home office and
the branch for 19X6 and the balance sheet for the home office on
January 1 are as
follows:
Home Office Transactions
(a) Transfers of cash to branch, $42,500. Continue to post
(b) Transfers of merchandise to branch (billed at cost),
$50,200. 20 questions remaining
(c) Sales on account, $105,000.
(d) Purchases on account, $122,500.
(e) Collections on account. $113,600.
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(f) Payments on account, $124,000. phone to post a question
(g) Expenses paid, $26,600. We'll send you a one-time download
link
(h) Cash received from branch, $53,400.
(i) Dividends paid, $10,000.
Adjusting data on December 31: 888-888-8888 Text me
Depreciation for year, $1,180.
By providing your phone number, you agree to receive a one-time
Merchandise inventory, $48,500. automated text message with a link to get the app. Standard
messaging rates may apply.
Prepaid expenses, $2,050.
Accrued expenses, $1,350.
Branch Transactions
(a) Cash received from home office, $42,500. My Textbook Solutions
(b) Merchandise received from home office, $50,200.
(c) Sales on account, $66,000.
(d) Purchases on account, $22,500.
(e) Collections on account deposited to the credit of the home
office, $53,400.
(f) payments on account, $12,250.
Basics of... Electronic... Engineering...
(g) Purchase of furniture and fixtures for cash, $8,000.
2nd Edition 2nd Edition 7th Edition
(h) Expenses paid, $18,000.
View all solutions
Adjusting data on December 31:
Depreciation, $650.
Merchandise inventory, $23,500.
Prepaid expenses, $750.
Accrued expenses, $300.
Balance Sheet

Instructions:
(1) Prepare journal entries to record the foregoing transactions
for (a) the branch and (b) the home office.
(2) Prepare individual statements for the branch and for the
home office.
(3) Prepare combined statements for the branch and the home
office.
(4) Prepare the journal entries to adjust and close the books
for (a) the branch and (b) the home office.
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