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Financial Reporting question 370 (Premier)

This topic has 2 replies, 2 voices, and was last updated 5 years ago by anniebabe.

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June 23, 2020 at 7:49 pm #574573
HanACCA
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Hello everybody!
Does anyone know why in question 370 in Financial Reporting Exam Kit there is 3200 reported as a retained earnings of subsidiary at acquistion? It looks like 3900 was profit for the year, but I cannot find this information anywhere.
Thank you!
June 24, 2020 at 9:31 pm #574641
anniebabe
Participant
- Topics: 33
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have you got the update sheet?
there is a part missing out of the question
vii
Sandfords profit for y/e 30/9 was $3.9m
June 24, 2020 at 9:39 pm #574644
anniebabe
Participant
- Topics: 33
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reporting date 12300 4500
at acqn. (4500-1300) 3200
post acqn (3900/12×4) 1300
does this help?
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