188. Bird Corporation has several subsidiaries that are included in its consolidated financio statements and several other investments in corporations that are not consolidated. In its year-end trial balance, the following intercompany balances appear. Ostrich Corporation is the unconsolidated company; the rest are consolidated: Due from Pheasant Corporation Due from Turkey Corporation Cash advance to Skylark Company Cash advance to Starling Current receivable from Ostrich P 25,000 5,000 8,000 15,000 10,000 What amount should Bird report as intercompany receivables on its consolidated balance sheet? a. PO. С. P30,000. b. P10,000. d. P63,000.
188. Bird Corporation has several subsidiaries that are included in its consolidated financio statements and several other investments in corporations that are not consolidated. In its year-end trial balance, the following intercompany balances appear. Ostrich Corporation is the unconsolidated company; the rest are consolidated: Due from Pheasant Corporation Due from Turkey Corporation Cash advance to Skylark Company Cash advance to Starling Current receivable from Ostrich P 25,000 5,000 8,000 15,000 10,000 What amount should Bird report as intercompany receivables on its consolidated balance sheet? a. PO. С. P30,000. b. P10,000. d. P63,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: AFAR
Transcribed Image Text:U.
P-U-
C.
P300,000
b. P100,000
d.
P400,000
Latance
188. Bird Corporation has several subsidiaries that are included in its consolidated financial
statements and several other investments in corporations that are not consolidated. In its
year-end trial balance, the following intercompany balances appear. Ostrich Corporation is
the unconsolidated company; the rest are consolidated:
P 25,000
Due from Pheasant Corporation
Due from Turkey Corporation
Cash advance to Skylark Company
Cash advance to Starling
Current receivable from Ostrich
5,000
8,000
15,000
10,000
What amount should Bird report as intercompany receivables on its consolidated balance
sheet?
a. PO.
b. P10,000.
P30,000.
P63,000.
С.
d.
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