question archive Quark acquired 70% of the 1m issued f1 ordinary shares of Whey on 1 January 20X1 when Whey's Not yet retained earnings were $1,500,000
Quark acquired 70% of the 1m issued f1 ordinary shares of Whey on 1 January 20X1 when Whey's Not yet retained earnings were $1,500,000
Subject:AccountingPrice: Bought3
Quark acquired 70% of the 1m issued f1 ordinary shares of Whey on 1 January 20X1 when Whey's Not yet retained earnings were $1,500,000.
The group measures non-controlling interest (NCI) at share of net assets.
An impairment review performed at 31 December 20X1 indicated that goodwill on the acquisition of Flag Whey had been impaired by E425,000.
The retained earnings of Whey at 31 December 20X1 were $2,750,000.
The NCI to be included in the consolidated statement of financial position at 31 December 20X1 will be:
O a. E1,275,500
O b. E1, 125,000
O c. E700,000
O d. $1,575,000
O e. 1997,500
O f. None of these options are correct
