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HE Corporation Combined Statement Working Paper For The Year Ended December 31, 20XX

This document contains the combined working paper for HE Corporation for the year ended December 31, 20XX. It combines the trial balances of the home office and branch, along with eliminations and adjustments to prepare the combined income statement and balance sheet. Key accounts include cash, accounts receivable, inventory, equipment, sales, expenses, liabilities, and equity.

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31 views

HE Corporation Combined Statement Working Paper For The Year Ended December 31, 20XX

This document contains the combined working paper for HE Corporation for the year ended December 31, 20XX. It combines the trial balances of the home office and branch, along with eliminations and adjustments to prepare the combined income statement and balance sheet. Key accounts include cash, accounts receivable, inventory, equipment, sales, expenses, liabilities, and equity.

Uploaded by

Unknown 01
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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HE Corporation

Combined Statement Working Paper


For the year ended December 31, 20XX

Adjusted Trial Balance Eliminations Combined Income Statement Combined Balance Sheet
Home Office Branch Dr Cr Dr Cr Dr Cr
Debits
Cash ? ? ?
Accounts Receivable ? ? ?
Inventory, January 1 ? ? ?
Investment in Branch ? b. ?
Equipment (net) ? ?
Purchases ? ?
Shipments from Home Office ? a. ?
Operating Expenses ? ? ?
Total 930,000.00 219,000.00

Inventory, December 31 (BS) 150,000.00

Credits
Accounts Payable ? ? ?
Home Office ? b. ? ?
Share Capital ? ?
Retained Earnings, January 1 ?
Sales ? ? ?
Shipments to branch ? a. ?
Total 930,000.00 219,000.00

Inventory, December 31 (IS) ? ? 150,000.00


215,000.00 215,000.00 713,000.00 855,000.00 371,000.00 229,000.00
Net Income (to Balance Sheet) 142,000.00 142,000.00
855,000.00 855,000.00 371,000.00 371,000.00

a. To eliminate shipments to branch and shipments from home office.


b. To eliminate reciprocal accounts

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