Broncos Limited Acquired a 30% Interest in Bennett Limited for $54

Multiple Choice

Broncos Limited acquired a 30% interest in Bennett Limited for $54 000. Broncos holds other equity investments but does not prepare consolidated financial statements. Bennett Limited revalued its buildings upwards by $20 000 during the current financial period. The balance of the investment in associate account at the end of the current financial period is:

A) $22 200.
B) $36 200.
C) $54 000.
D) $60 000.