Hi I am having a hard time figuring out the Retained Earnings at acquisition. The relevant info is
Retained earnings at Y/E 12000
Acquisition date 1 April 2013 and Year end is 30th September 2013
Holding 75%
I am not sure if there is any other information that's relevant.
Thanks a lot
Ask the Tutor ACCA FR
Dec 2013 Consolidation
Also Subsidiary's loss for the year is 4600
10y ago#2If the loss for the year is $4,600 and the retained earnings AFTER that loss has been accounted for are $12,000, then the retained earnings brought forward must have been $16,600
In working W2 Goodwill, you should have 2 lines relating to retained earnings
1) retained earnings brought forward $16,600
2) retained earnings 6 months $( 2,300)
Does that clear it up for you?
it does. thanks a lot
10y ago#4You're welcome
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