Multiple Choice
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. The remaining useful life of the asset at the date of transfer was 5 years and the tax rate is 30%. The impact of the above transaction on the NCI share of profit at 30 June 2021 is:
A) an increase of $2 625
B) an increase of $3 750
C) a decrease of $2 625
D) a decrease of $3 750
Correct Answer:
Verified
Correct Answer:
Verified
Q31: If a gain on bargain purchase arises
Q32: Changes in equity in the previous periods
Q33: A non-controlling interest in a subsidiary
Q34: Under the full goodwill method:<br>A) acquired goodwill
Q35: Ryan Limited acquired 80% of the shares
Q37: Ryan Ltd holds a 75% interest in
Q38: When presenting a consolidated statement of financial
Q39: A non-controlling interest contributes to a consolidated
Q40: Changes in equity in the current period
Q41: A non-controlling interest is entitled to a