Question
The following information relates to Adele Ltd. Since the date of acquisition, Adele Ltd has held interests in multiple subsidiaries totalling DNCI of 25%, and
The following information relates to Adele Ltd. Since the date of acquisition, Adele Ltd has held interests in multiple subsidiaries totalling DNCI of 25%, and INCI of 15%. The following summarised financial information is provided:
Retained earnings at DOA Retained earnings at 1/7/2020 Current period profit for year ended 30/6/2021
Required:
$236,000 $476,000 $117,000
a) Based on the financial information you have available, prepare the journal entries to record the allocation to NCI upon consolidation on 30 June, 2021.
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
12th Edition
9780073526706
