Jiminez Limited Acquired 80% of the Shares in Mustang Limited

Multiple Choice

Jiminez Limited acquired 80% of the shares in Mustang Limited for $180 000. At acquisition date, share capital in Mustang was $100 000 and reserves amounted to $50 000. All assets and liabilities of Mustang were recorded at fair value at acquisition date except buildings which was recorded at $10 000 below fair value. If the company tax rate was 30%, and the partial goodwill method was adopted, the NCI share of equity at the date of acquisition was:

A) $30 000.
B) $31 400.
C) $32 000.
D) $54 400.