Arnez Ltd. acquired 70% of the outstanding common shares of Bedard Ltd. At the acquisition date, Bedard's net identifiable assets had a carrying value of $825,000 and a fair market value of $1,000,000. Arnez paid $910,000 for the acquisition. Under the entity method, what amount should be reported for the non-controlling interest on the consolidated statement of financial position?
A)$210,000
B)$247,000
C)$300,000
D)$390,000

Question

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The Answer of Arnez Ltd. acquired 70% of the outstanding common shares of Bedard Ltd. At the acquisition date, Bedard's net identifiable assets had a carrying value of $825,000 and a fair market value of $1,000,000. Arnez paid $910,000 for the acquisition. Under the entity method, what amount should be reported for the non-controlling interest on the consolidated statement of financial position?
A)$210,000
B)$247,000
C)$300,000
D)$390,000

Arnez Ltd Acquired 70% of the Outstanding Common Shares of Bedard