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Hi,
Can someone help me out please with the W1 working of 10m pre and 2m post acquisition profit? It’s a while back that I did F7 and got a bit rusty.
Many thanks
I think from memory that the acquisition took place ten months into this year. That would therefore give you a 10 / 2 split of profits on a straight forward time-allocation basis.
However, we are told that the profit on the asset transfer took place in the last two months, so it’s not a simple 10 month / two month split of profits!
Check out the printed solution to see how to calculate / compute the 10 / 2 profit split.
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