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Paul acquired 75% of the share capital of 2 points Simon on 1 January 20X1. On this date, the net assets of Simon were $80,000.
Paul acquired 75% of the share capital of 2 points Simon on 1 January 20X1. On this date, the net assets of Simon were $80,000. The non-controlling interest was calculated using fair value, which was calculated as $40,000 at the date of acquisition. At 1 January 20X3 the net assets of Simon were $120,000 and goodwill had been impaired by $10,000.
What was the value of the non- controlling interest at 1 January 20X3?
A $50,000
OB $47,500
OC $107,500
OD $87,500
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