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Hello Sir,
How did we get retained earnings b/f of 600,000 and ret. earnings for 8m of 2,600,000 in Q7 Mini exercises 10.Goodwill?If retained earnings at the end of the year are $4,500 and profit for the year was $3,900, then retained earnings brought forward must have been $600
If profit for the year is $3,900 and the acquisition date was 1 June (8 months into the current year) then the pre-acquisition element of that $3,900 is 8/12 *$3,900
Ok?
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