Question
AA plc has a wholly-owned subsidiary BB plc. At the statement of financial position date, the following balances existed in the books of the companies:
AA plc has a wholly-owned subsidiary BB plc. At the statement of financial position date, the following balances existed in the books of the companies:
| Trade receivables | Trade payables | |
| $ m | $m | |
| AA plc | 50 | 40 |
| BB plc | 35 | 32 |
On the last day of the financial year, AB plc made 2 million of credit sales to CD plc.
What are the trade receivables and trade payables figures that should appear on the consolidated statement of financial position?
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Audit Customer Satisfaction Marketing Added Value
Authors: Cindy E. Cosmas
1st Edition
089413373X, 978-0894133732
