Multiple Choice
Happy Ltd holds a 60% interest in Valley Ltd. On 1 July 2018 Valley Ltd sold a depreciable non-current asset to Happy Ltd at a profit before tax of $10 000. The remaining useful life of the asset at the date of sale was 4 years and the tax rate is 30%. The impact of the above on the NCI share of profit for the year ended 30 June 2019 is:
A) debit $2800.
B) credit $2800.
C) debit $2100.
D) credit $2100.
Correct Answer:
Verified
Correct Answer:
Verified
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