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I’ve been given retained earnings at reporting date and I want to calculate my retained earnings acquisition figure in W2 since it hasn’t been given. How do I go about it?
Hi,
This is a common scenario in the exam and you need to use the profit figure that will have been given in the question. You need to pro-rate the profits since the acquisition date and then deduct this figure from the retained earnings at the reporting date to give you the figure you require.
Thanks
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