Statements of financial position as at 31 March 2012 of Alpha and its fully owned subsidiary Beta include items stated. Alpha’s trade receivables include £80 due from Beta; whereas the corresponding amount reported as payable by Beta is only £50. The difference is because goods invoiced by Alpha to Beta at £20 and a remittance of £10 from Beta to Alpha are in transit on that date. Identify the amounts at which the items stated above would to be stated in the Consolidated Statement of financial position as at 31 March 2012.

Transcribed Image Text:

Alpha's £ Inventory 300 Trade receivables 400 Cash and bank 12 Trade payables 250 Beta's Inventory Trade receivables Cash and bank Trade payables E 200 300 10 150