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On 1 January 20X1, YX acquired 55% of RT's equity shares. YX elected to measure non-controlling interests in RT at fair value at acquisition. In
On 1 January 20X1, YX acquired 55% of RT's equity shares. YX elected to measure non-controlling interests in RT at fair value at acquisition. In the year ended 31 December 20X3, profit for the year of YX and RT amounted to $850,000 and $420,000 respectively. In November 20X3, RT sold goods to YX for $30,000 at a margin of 40%. One-third of these goods had been sold to third parties at the year end. An impairment review at 31 December 20X3 revealed that goodwill in RT had suffered an impairment of $60,000.
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