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Pogacar and Carapaz are the only members of PogacarCarapaz CC. They have an equal interest in the corporation and distribute profits accordingly.
The following information is extracted from the accounting records of the CC as at 31 March 2020, the financial year-end of the corporation.
Additional information:
Problem 1: Which one of the following alternatives represents the correct amount that must be disclosed as inventories in the statement of financial position of PogacarCarapaz CC as at 31 March 2020?
A. 79 000 B. 79 900 C. 79 800 D. 78 900
Problem 2: Which one of the following alternatives represents the correct amount that must be disclosed as prepayments in the statement of financial position of PogacarCarapaz CC as at 31 March 2020?
A. 7 700 B. 7 600 C. 7 400 D. 7 000
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