On 1 July 2019 Sky Ltd acquired 77% of the share capital of Ocean Ltd for $150,000. At that date, shareholders equity of Ocean Ltd was:

Share Capital	$100,000
General Reserve	55,000
Retained Earnings	14,000

At 1 July, 2019, the net assets of Ocean Ltd were recorded at their fair values and the fair value of the NCI was assessed to be $48,000. Each year the directors apply the impairment test for goodwill and at 30 June 2021, they decided that a write-down of $6,000 was required for consolidation purposes. In addition, another $5,700 of goodwill had been written-off in the previous year.The trial balances of the two companies as at 30 June 2021 were:

Required (a) Assuming the use of the full goodwill method, calculate the amount of the NonControlling interest in Ocean Ltd as at 30 June 2021. Show all supporting calculations. (b) Assuming the use of the partial goodwill method, calculate the amount of the NonControlling interest in Ocean Ltd as at 30 June 2021. Show all supporting calculations.

Sky Ltd Ocean Ltd Credit Balances Share capital (S1 shares General reserve Retained earnings Accounts payable $200,000 194,000 26,000 24,000 100,000 60,000 20,000 44,000 $644,000 Debit Balances Cash at bank Debtors Inventor Shares in Ocean Ltd Land and buildings $45,000 76,000 95,000 150,000 50,000 51,000 56,000 $644000