Gerrard Ltd

Multiple Choice

Gerrard Ltd. acquired 75% of Sittler Ltd. at April 30, 2012. Both companies have April 30 year-ends. Which of the following adjustements should be made to the opening non-controlling interest (NCI) balance to arrive at the April 30, 2013 NCI balance on Gerrard's statement of financial position?

A) Subtract the NCI's share of Sittler's fiscal 2013 net income and add in the NCI's share of Sittler's dividends declared.
B) Add in both the NCI's share of Sittler's fiscal 2013 net income and dividends declared.
C) Add in the NCI's share of Sittler's fiscal 2013 net income and subtract the NCI's share of Sittler's dividends declared.
D) Subtract both the NCI's share of Sittler's fiscal 2013 net income and dividends declared.