The following are extracted from the records of DONATELLO CO. and its branch MICHELANGELO Co. on December 31, 2008, the third year of the corporation's existence: DONATELLO CO. MICHELANGELO CO. Allowance for Overvaluation $72,500 Sales $600,000 Expenses $200,000 Shipment from Home Office $444,000 The branch acquires all of its merchandise from the Home Office.The inventories of the Branch at billed prices are: January 1, 2008-$47,717.18 December 31, 2008-$84,000Determine the branch profit-adjusted.

The following are extracted from the records of DONATELLO CO. and its branch MICHELANGELO Co. on December 31, 2008, the third year of the corporation's existence: DONATELLO CO. MICHELANGELO CO....

The following are extracted from the records of DONATELLO CO. and its branch MICHELANGELO Co. on December 31, 2008, the third year of the corporation's existence:

	DONATELLO CO.	MICHELANGELO CO.
Allowance for Overvaluation	$72,500
Sales		$600,000
Expenses		$200,000
Shipment from Home Office		$444,000

The branch acquires all of its merchandise from the Home Office.

The inventories of the Branch at billed prices are:

January 1, 2008-$47,717.18

December 31, 2008-$84,000

Determine the branch profit-adjusted.

Jun 01, 2022

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The following are extracted from the records of DONATELLO CO. and its branch MICHELANGELO Co. on December 31, 2008, the third year of the corporation's existence: DONATELLO CO. MICHELANGELO CO....

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