What would be the amount of the non-controlling interest appearing on Whine's consolidated balance sheet as at December 31, 2018 before the issue of shares to Chompster?
A) $125,000.
B) $160,000.
C) $222,000.
D)$264,000.

Question

Quizplus · Accepted Answer

Whine's non-controlling interest is 40% of the fair value of Chompster's net assets at the date of acquisition. Chompster's net assets at the date of acquisition were $400,000, so Whine's non-controlling interest is $160,000 (40% x $400,000).

What Would Be the Amount of the Non-Controlling Interest Appearing