JVX acquired 75% of its only subsidiary, TPI, on 01 December 20X3. Both companies operate in J-land where the currency is the J$.

On the date of acquisition, the fair value of the non-controlling interests (NCI) in TPI was J$40,000 and the fair value of TPIs net assets was J$120,000. JVX elected to measure the NCI using the proportionate share of net assets at acquisition.

In the year ended 30 November 20X4, there was no goodwill impairment and TPI paid dividends of J$4,000 from its profit for the year of J$32,000. TPI has no other comprehensive income.

What is the carrying amount of the NCI at 30 November 20X4 in the consolidated statement of changes in equity of the JVX group?

Solution: J$37,000

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