Which of the following amounts will GH debit to non controlling interest when the 20% acquisition is adjusted for in its consolidated financial statements at 31 December 20X6?

GH owned 70% of the equity share capital of XY at 1 January 20X6. GH acquired a further 20% of XY’s equity share capital on 31 December 20X6 for $430,000. Non controlling interest was measured at $600,000 immediately prior to the 20% acquisition.

Which of the following amounts will GH debit to non controlling interest when the 20% acquisition is adjusted for in its consolidated financial statements at 31 December 20X6?
A . $400,000
B . $120,000
C . $200,000
D . $430,000

View Answer

Answer: A