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Consolidated SOFP - Retained Earnings

RRoseMarie10y ago
Hi Mr Moffat, I was doing a question on Consolidated Financial Statements and came across a sentence which reads 'The profit after tax of Safari for the year ended 30 June 20X6 accrued evenly throughout the year.' I cannot understand what is meant by that! Could you kindly help me ? Thanks in advance
John MoffatJohn MoffatTutor10y ago#1
It means that it was spread evenly (e.g. if the profit for the year was $12,000, then it was $1,000 a month).
RRoseMarie10y ago#2
Hi Mr Moffat, Thank you for the above.
John MoffatJohn MoffatTutor10y ago#3
You are very welcome :-)
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