Question
On January 1, Year 6, AB Inc. purchased 80 percent of the common shares of CD Corp. for $1,400,000. On the date of acquisition, CDs
On January 1, Year 6, AB Inc. purchased 80 percent of the common shares of CD Corp. for $1,400,000. On the date of acquisition, CDs shareholders equity was as follows:
Common shares $600,000 Retained earnings $608,000
Any acquisition differential was allocated to goodwill. During Year 6, CD earned a net income of $400,000 and paid dividends of $300,000. On December 31, Year 6, a goodwill impairment loss of $30,000 was recorded.
What is the amount of non-controlling interest on the consolidated balance sheet as at December 31, Year 6?
Multiple Choice
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$241,600
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$255,600
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$261,600
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$364,000
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