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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Financial Reporting question 370 (Premier)
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!
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
reporting date 12300 4500
at acqn. (4500-1300) 3200
post acqn (3900/12×4) 1300
does this help?