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F2: Advanced Financial Reporting

12.4 CK owns 80% of the ordinary share capital of LS. As at the year-end, CK’s
payables included a balance outstanding to LS of $50,000. CK had sent a
payment of $10,000 just prior to the year-end which LS has yet to receive.

Extracts from the statements of financial position of CK and LS are shown
below:

CK LS
$000 $000
Current assets
Inventory 556 165

Trade receivables 426 102
Cash 150 53
Current liabilities
Trade payables 325 95

What are the balances for group receivables, cash and payables as shown
in the group statement of financial position as at the year end? Answers
are shown in $000s.

Receivables Cash Payables

A 478 213 370

B 478 203 370

C 468 213 360

D 468 213 370

460