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Dear OT Tutors
I hope you can help me.
Please can you help me with the breakdown of the calculations of the following:
“W3 b/f” – Consolidated Retained Earnings – per question
Diana – 530
Liga – 351I really appreciate your time and support.
Kind regards,
JohnIf the retained earnings as at 30 June, 2016 were respectively $600,000 and $400,000 and the retained earnings for the year ended 30 June, 2016 were $70,000 and $49,000 respectively, then the retained earnings at the start of the year (retained earnings brought forward) must have been $530,000 and $351,000 respectively ((600 – 70) and (400 – 49))
OK?
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