H plc is a holding company with a 80% interest in its subsidiary S plc. The...

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H plc is a holding company with a 80% interest in its subsidiary S plc. The following is an extract from the Statements of Financial Position of the two companies as at the end of their most recent financial year: Ordinary shares of £1 Retained earnings H plc £m 24 11 S plc £m 26 48 H plc acquired its interest in S plc for £38m when S plc's retained earnings were £15m and the fair value of the non-controlling interest in S plc was £12m. Calculate the amount for non-controlling interest that would be reported in H plc's consolidated balance sheet at the end of its most recent financial year. Enter your answer as £m correct to 1 decimal place. H plc is a holding company with a 80% interest in its subsidiary S plc. The following is an extract from the Statements of Financial Position of the two companies as at the end of their most recent financial year: Ordinary shares of £1 Retained earnings H plc £m 24 11 S plc £m 26 48 H plc acquired its interest in S plc for £38m when S plc's retained earnings were £15m and the fair value of the non-controlling interest in S plc was £12m. Calculate the amount for non-controlling interest that would be reported in H plc's consolidated balance sheet at the end of its most recent financial year. Enter your answer as £m correct to 1 decimal place.

Answer rating: 100% (QA)

To calculate the noncontrolling interest NCI in H plcs consolidated balance sheet we need to determi... View the full answer