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in calculating the pre acquisition retained earning…..I didnt get the point that why the loan notes in adjustment (iii) is being added to the pre-acquisition retained earning… and why the proportionate profit for the year i.e $21000*6/12 is added instead of being deducted from the Retained earnings of Salva… whereas in the Question Pedantic the proportionate profit (3000*6/12) has been deducted from the retained earning of Sophistic.
can anyone make me clear about these points.. thank you
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