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Dear Tutor,
When calculte the posted Sophistic’s Retain earning,why don’t consider the Fair value adjustment $2M (fair value excess),
my answer is=3000*6/12+2,000fair value excess-(800URP+200 depreciation)? where is my answer wrong.
and I think the paper answer missing the both “other comprehensive “item in income statement and “surplus reverse in statement of fiancial position. do i understand right?
Looking forward your answer.did you watch this lecture?
https://opentuition.com/acca/f7/acca-f7-december-2008-question-1-pedantic/
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