Multiple Choice
Moffatt Ltd holds a 60% interest in Beach Ltd.Beach Ltd sells inventory to Moffatt Ltd during the year for $20 000.The inventory originally cost $14 000.At the end of the year 80% of the inventory is still on hand.The tax rate is 30%.The NCI adjustment required in relation to this transaction includes which of the following?
A) DR NCI $1344
B) DR NCI share of profit/(loss) $1344
C) DR NCI $1920
D) CR NCI $1344
Correct Answer:
Verified
Correct Answer:
Verified
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