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NEW QUESTION: 1
Statements of financial position for YZ, BC and DE at 31 March 20X2 include the following balances:

YZ purchased 90% of BC's equity shares for $508,000 on 1 January 20X2. On 1 January 20X2 BC's retained earnings were $183,000. YZ uses the proportion of net assets method to value non-controlling interest at acquisition.
YZ purchased 30% of DE's equity shares on 1 April 20X1 for $112,000. DE's retained earnings at 1 April
20X1 were $88,000.
On 1 February 20X2 YZ sold goods to BC for $28,000 at a mark up of 25% on cost. All the goods were still in BC's inventory at 31 March 20X2.
Calculate the amount of the non-controlling interest to be included in YZ's consolidated statement of financial position at 31 March 20X2.
Give your answer to the nearest whole $.
Answer:
Explanation:
$47900

NEW QUESTION: 2
Which statement is true regarding inventory transactions?
A. Inventory adjustments are not part of inventory transactions.
B. You must create at least one user-defined transaction reason for each inventory organization,
C. Work in Process would not affect inventory transactions.
D. You can designate, by transaction type, which transaction reasons are available.
E. Transaction reasons can be used in all transaction forms.
Answer: E

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