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The following information relates to Billie Ltd. Since the date of acquisition, Billie Ltd has held interests in multiple subsidiaries totalling DNCI of 25%, and
The following information relates to Billie Ltd. Since the date of acquisition, Billie 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 | $117,000 |
| Retained earnings at 1/7/2021 | $476,000 |
| Current period profit for year ended 30/6/2022 | $236,000 |
| a) Based on the financial information provided, prepare the calculations for the NCI allocation (using the NCI memorandum method) for the period ended 30 June 2022. |
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