Summer Certification Sale 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: save70

The subsidiary company of Group XY has purchased £150,00 worth of goods its parent company. However the goods purchased have yet to arrive at the subsidiary at the end of the financial year 20X4, meaning there is

a disagreement in the current account balances between the parent and subsidiary.

With Group XY looking to produce its CSOFP for the end of the financial year, which of the following statements are true in relation to accounting for this disagreement? Select ALL that apply.

Options:

The adjustments to resolve this disagreement, need to be accelerated, so they can be included in the consolidation of assets for the CSOFP for 20X4

£150,000 worth of inventory will be debited into the subsidiary's inventory account

As the goods have not reached the subsidiary by the end of the financial year 20X4, they will be included in the CSOFPfor the next financial year

£150,000 worth of inventory will be credited into the subsidiary's inventory account

£150,000 will be debited to the payables account of the parent company

£150,000 will be credited to the payables account of the subsidiary company

£150,000 will be credited into the receivables account of the parent company

Buy Now

Question 2

From the list below identify the item that appears in the statement of financial position.

Options:

The amount of interest charged on loans during the year.

The amount of loans outstanding at the year end.

The amount of loans repaid during the year.

The amount of interest actually paid during the year.

Question 3

The following data has been extracted from GH's accounting records:

What is GH's average inventory days for the year ended 31 March 20X3?

Options:

39 days

43 days

25 days

28 days

Get Free F1 Questions and Answers

Summer Certification Sale 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: save70

F1 Exam Dumps : Financial Reporting

CIMA Related Exams

Verified By IT Certified Experts

CertsTopics.com Certified Safe Files

Up-To-Date Exam Study Material

99.5% High Success Pass Rate

100% Accurate Answers

Instant Downloads

Exam Questions And Answers PDF

Try Demo Before You Buy

Financial Reporting Questions and Answers

Options:

Answer:

Options:

Answer:

Options:

Answer:

CompTIA

Fortinet

Microsoft

Salesforce