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
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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
Select one:
O a.
O b.
Oc.
O d.
Pinky Co
$
50,000
70,000
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?
$80,000 and $112,000
$75400 and $112,000
$74,000 and $103,600
$75,400 and $107,400
Scar Co
$
30,000
42,000
Transcribed Image Text: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 Select one: O a. O b. Oc. O d. Pinky Co $ 50,000 70,000 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? $80,000 and $112,000 $75400 and $112,000 $74,000 and $103,600 $75,400 and $107,400 Scar Co $ 30,000 42,000
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