Crowdly

Add to Chrome

What is the correct pro-forma journal to record non-controlling interests at ac...

✅ The verified answer to this question is available below. Our community-reviewed solutions help you understand the material better.

What is the correct pro-forma journal to record non-controlling

interests at acquisition date for Leago Ltd Group is?

Leago Ltd owns 75% in Bill Ltd. Bill Ltd had share capital of R250 000 and retained earnings of R98 500 at acquisition date. The consideration paid for the interest acquired was equivalent to the net asset value of Bill Ltd at acquisition date.

		Dr	Cr
Share capital		250 000
Retained earnings		98 500
	Investment in Bill Ltd		261 375
Non-controlling interests		87 125

		Dr	Cr
Share capital		250 000
Retained earnings		98 500
	Investment in Bill Ltd		261 375
	Non-controlling interests		87 125

100%

		Dr	Cr
	Share capital		250 000
	Retained earnings		98 500
Investment in Bill Ltd		261 375
Non-controlling interests		87 125

		Dr	Cr
Share capital		250 000
Retained earnings		98 500
Investment in Bill Ltd		261 375
	Non-controlling interests		87 125

Want instant access to all verified answers on cas.myexams.unisa.ac.za?

Get Unlimited Answers To Exam Questions - Install Crowdly Extension Now!

Add to Chrome

Telegram Instagram TikTok Question Bank