12) Pinky Co. acquired 80% of Scar Co. ordinary share capital on 1 January 2012. As at 31 December 2012 theextract from their individual statements of financial position showed:Current Assets:ReceivablesCurrent Liabilities:PayablesSelect one:O a.O b.Oc.O d.Pinky Co$50,00070,000As a result of trading during the year Pinky Co.'s receivables balance included an amount due from Scar Co: of$4,600.What should be the shown as the consolidated figure for receivables and payables?$80,000 and $112,000$75400 and $112,000$74,000 and $103,600$75,400 and $107,400Scar Co$30,00042,000

Acquisition: It implies to a financial process wherein the buyer company acquires or takeover…

12) Pinky Co. acquired 80% of Scar Co. ordinary share capital on 1 January 2012. As at 31 December 2012 the extract from their individual statements of financial position showed: Current Assets: Receivables Current Liabilities: Payables Pinky Co S 50,000 Select one: O a $80,000 and $112.000 O b. $75400 and $112.000 Oc $74,000 and $103,600 Od $75,400 and $107,400 70,000 Scar Co $ 30,000 42,000 As a result of trading during the year Pinky Co.'s receivables balance included an amount due from Scar Co. of $4,600. What should be the shown as the consolidated figure for receivables and payables?

12) Pinky Co. acquired 80% of Scar Co. ordinary share capital on 1 January 2012. As at 31 December 2012 the extract from their individual statements of financial position showed: Current Assets: Receivables Current Liabilities: Payables Pinky Co S 50,000 Select one: O a $80,000 and $112.000 O b. $75400 and $112.000 Oc $74,000 and $103,600 Od $75,400 and $107,400 70,000 Scar Co $ 30,000 42,000 As a result of trading during the year Pinky Co.'s receivables balance included an amount due from Scar Co. of $4,600. What should be the shown as the consolidated figure for receivables and payables?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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