Ryan Ltd holds a 75% interest in Tully Ltd. On 30 June 2021 Tully Ltd transferred a depreciable non-current asset to Ryan Ltd at a profit of $15 000. Ryan Ltd determined that the remaining useful life of the asset at the date of transfer to Ryan Ltd was 5 years and the tax rate is 30%. 

What would be the impact of the above transaction on the NCI share of profit at 30 June 2021?

Answer rating: 100% (QA)

Step 11 SOLUTION RYAN LTD PROFIT 15000 LESSDEPRECIATIO... View the full answer