Quark acquired 70% of the 1m issued 1 ordinary shares of Whey on 1 January 20X1...

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Quark acquired 70% of the 1m issued £1 ordinary shares of Whey on 1 January 20X1 when Whey's retained earnings were £1,500,000. The group measures non-controlling interest (NCI) at fair value at the acquisition date. The FV of the NCI of Whey as at 1 January 20X1 was £1,325,000. An impairment review performed at 31 December 20X1 indicated that goodwill on the acquisition of Whey had impaired by £425,000. The retained earnings of Whey at 31 December 20X1 were £2,750,000. The NCI to be included in the consolidated statement of financial position at 31 December 20X1 will be: O a. £1,572,500 O b. None of these options are correct Oc. £1,700,000 O d. £2,150,000 O e. £1,275,000 Of. £997,500 Og. £2,022,500 Quark acquired 70% of the 1m issued £1 ordinary shares of Whey on 1 January 20X1 when Whey's retained earnings were £1,500,000. The group measures non-controlling interest (NCI) at fair value at the acquisition date. The FV of the NCI of Whey as at 1 January 20X1 was £1,325,000. An impairment review performed at 31 December 20X1 indicated that goodwill on the acquisition of Whey had impaired by £425,000. The retained earnings of Whey at 31 December 20X1 were £2,750,000. The NCI to be included in the consolidated statement of financial position at 31 December 20X1 will be: O a. £1,572,500 O b. None of these options are correct Oc. £1,700,000 O d. £2,150,000 O e. £1,275,000 Of. £997,500 Og. £2,022,500

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