Question
On 1 January 20X4 P plc acquired 80% of S plc equity share capital of 120,000. At the date of acquisition the total of S
On 1 January 20X4 P plc acquired 80% of S plc equity share capital of 120,000. At the date of acquisition the total of S plcs net assets in its statement of financial position was 689,200. The fair values of S plcs net assets were found to be equivalent to their carrying amounts with the exception of a building which had a fair value 250,000 greater than its carrying amount. The building had a remaining useful life of 20 years. On 31 December 20X7 the retained earnings of P plc and S plc were 887,100 and 804,700 respectively. The companies only reserves were retained earnings. What is the balance for non-controlling interest which would be included in the consolidated statement of financial position at 31 December 20X7? A 174,940 B 200,940 C 224,940 D 227,440
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