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F7 revision kit mock exam 1 question number 3 , paradigm

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › F7 revision kit mock exam 1 question number 3 , paradigm

  • This topic has 1 reply, 2 voices, and was last updated 9 years ago by clare429.
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  • December 1, 2015 at 3:23 pm #286742
    Nelson
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    how to calculate subsi retained earning?
    june 2013 question 1
    i know pre + post acqusition profit is 10000 but in subsi retained earning why it dint minus the pre acqusition loss of 20000?

    December 1, 2015 at 7:49 pm #286822
    clare429
    Member
    • Topics: 0
    • Replies: 1
    • ☆

    Per the question the retained earnings are 4,000 profit (loss of 4,000 + profit of 8,000).

    Pre-acquisition there was a loss of 4,000 to April X2 and then a further loss of 2,000 to October (acquisition date).

    Therefore post-acquisition profits are 4,000 – (-4000) – (-2000). Double negative makes a positive so post acquisition profits are 10,000.

    The 2,000 pre acq loss is accounted for.

    Hope this helps.

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