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previous year retained earnings

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › previous year retained earnings

  • This topic has 4 replies, 2 voices, and was last updated 11 years ago by MikeLittle.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • March 4, 2014 at 7:26 pm #161460
    asad
    Member
    • Topics: 17
    • Replies: 15
    • ☆

    Hi
    how to calculate retained earnings for previuos year.when we dont have income statement and not even mention in question about retained earnings in previous year.while working on post acquisition reserve in consolidated financial statement workings.

    share 250
    retained earnings 1200
    A’s profit after tax for the year is 600

    NOw how i have to calculte post acquisition reserve

    March 4, 2014 at 7:32 pm #161461
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    So, retained earnings at the year end are $1,200. And that INCLUDES this year’s retained earnings. So the brought forward figure must be $1,200 carried forward less$600 retained from this year = $600.

    It’s not a great example – too many $600s around.

    Say carried forward is $1,900 and this year’s is $600.

    Therefore brought forward must be $1,900 – $600 = $1,300

    Ok?

    Retained earrings at date if acquisition will be given in a question UNLESS it’s a mid-year acquisition in which case retained earnings at date of acquisition will be the brought forward figure + the pre-acquisition time-apportioned figure from this year’s results

    Again, ok?

    March 4, 2014 at 7:36 pm #161462
    asad
    Member
    • Topics: 17
    • Replies: 15
    • ☆

    thankyou very much
    actually i am doing kaplan chapter 4 “test your understandings 2″”
    now in this i am not getting how the calclute 1000
    here it shows post acquistion reserves are (1450-1000) how this 1000 comes from

    March 4, 2014 at 7:43 pm #161463
    asad
    Member
    • Topics: 17
    • Replies: 15
    • ☆

    can you check that example for me i am almost trying to do this for 2 hours but didnt able to get that plese help me through this

    March 5, 2014 at 1:38 pm #161521
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    Need more information – I don’t have the Kaplan text with me

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