Copley Chocs Inc (CCI) acquired 75% of the equity share capital of Plaza Picnic Co (PPC) on

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Copley Chocs Inc (CCI) acquired 75% of the equity share capital of Plaza Picnic Co (PPC) on 1 January 20X6. Goodwill on acquisition of PPC is $300,000 and has been impaired by $60,000 since the date of acquisition. Retained earnings of PPC at 1 January 20X6 and 31 December 20X7 are $420,000 and $520,000 respectively. CCI elects to value NCI at fair value at the date of acquisition. The fair value of NCI at 1 January 20X6 is $250,000. What is the value of NCI in the CSOFP as at 31 December 20X7? Solution A.$230,000. B.$260,000. C.$275,000. D.$280,000

Posted Date: May 18, 2024 06:11 PM

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Copley Chocs Inc (CCI) acquired 75% of the equity share capital of Plaza Picnic Co (PPC) on

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