Parent plc obtained control of Subsidiary plc on 12 February 20X1, when Subsidiary plc held 28,000 in
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Parent plc obtained control of Subsidiary plc on 12 February 20X1, when Subsidiary plc held £28,000 in accounts receivable.
At 31 December 20X1, Parent and Subsidiary had accounts receivable of £90,000 and £35,000, respectively.
At 1 January 20X1, Parent had £75,000 in accounts receivable.
In relation to Parent plc’s consolidated statement of cash flow, what is the impact of the change in accounts receivable for the financial year ending 31 December 20X1?
Related Book For
Advanced Financial Accounting
ISBN: 978-0132928939
7th edition
Authors: Thomas H. Beechy, V. Umashanker Trivedi, Kenneth E. MacAulay
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