What is meant by the term “non-controlling interest” (NCI)?
Answer to relevant QuestionsWhat are two events that could occur between the acquisition date and the beginning of the current period that could affect the calculation of the NCI share of retained earnings? Explain whether the NCI is entitled to a share of subsidiary equity or some other amount. On July 1, 2012, Norilsk acquired 90% of the capital of Rudny for $290,160. The equity of Rudny at this date consisted of: Share capital............. $200,000 Retained earnings............. 80,000 The carrying amounts ...On December 31, 2010, Peat Limited purchased 70% of the outstanding common shares of Soap Limited for $7 million. On that date, Soap’s shareholders’ equity consisted of common shares of $5 million and retained earnings ...The consolidated ﬁnancial statements of Dataserve Submarine Works are being prepared by the group accountant, Raz Kawatra. He is currently in dispute with the auditors over the need to adjust for the NCI share of equity in ...
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