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On June 4, 2006, Victoria Company Opened Its First Branch

Question 17

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On June 4, 2006, Victoria Company opened its first branch. Separate accounting records were established for the branch. Both the home office and the branch used the perpetual inventory system. Among the intracompany transactions were the following:
On June 4, 2006, Victoria Company opened its first branch. Separate accounting records were established for the branch. Both the home office and the branch used the perpetual inventory system. Among the intracompany transactions were the following: Prepare journal entries for the foregoing intracompany transactions in the accounting records of (a) the home office, and (b) the branch of Victoria Company. Prepare journal entries for the foregoing intracompany transactions in the accounting records of (a) the home office, and (b) the branch of Victoria Company.

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