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Retained Earnings on Incorporation

This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.

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January 24, 2018 at 11:59 am #432619
suewalker2605
Member
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Am I correct in my understanding…..if a company is acquired on its incorporation then in Working 2 there will be no retained earnings???
Thank you
January 24, 2018 at 12:04 pm #432621
MikeLittle
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That is correct – there has been no time for this new company to have done any transactions so no profits could have been made as at date of incorporation / acquisition
OK?
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