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Can you tell me what the answer is for the retained earnings to be shown on SOFP please? I can see that b/f retained and c/f retained has been calculated, is the answer both?
Also is W4 even relevant for this example, and if so why?
Working W4 is not always relevant (nor, sometimes, is it even capable of calculation – if it’s there it’s there simply to provide more practice)
The figure for retained earnings in the statement of financial position is the retained earnings figure carried forward
OK?
Great. So do you need to work out retained earnings b/f for this example, or is that just there for practice too?
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