On 30 June 20X2, H acquired 80% of the share capital of S. The non-controlling interest had a fair value of $3,600,000
Extracts from the statement of financial position of S at 30 June 20X2 and 30 June 20X6 are shown below:
Statement of financial position
| 30 June 20X2 | 30 June 20X6 | |
| Ordinary share capital | 6,000,000 | 6,000,000 |
| Share premium account | 8,000,000 | 8,000,000 |
| Retained Earnings | 6,000,000 | 10,800,000 |
What figure for non controlling interest should appear in the consolidated statement of financial position as at 30 June 20X6?
Suggested solutions:
| Non-Controlling Interest | 3,600,000 |
| Share of profit | 960,000 |
| Answer | 4,560,000 |
Share of profit after acquistion
= 0.2 X ( 10,800,000 -6,000,000 )
=$960,000
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2015 ACCA F3 NON CONTROLLING INTEREST