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Peter Ltd. acquired 80% of Lenny Ltd. in 20X5. On Jan. 1, 20X9, Peter acquired another 5% of Lenny's common shares for $300,000. Under the
Peter Ltd. acquired 80% of Lenny Ltd. in 20X5. On Jan. 1, 20X9, Peter acquired another 5% of Lenny's common shares for $300,000. Under the entity method, the balance of the non-controlling interest at December 31, 20X8, was $500,000. What adjustment should be made to the consolidated shareholders' equity to reflect Peter's additional purchase of shares?
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