Exam 18: Consolidation: Non-Controlling Interest

Jiminez Limited acquired 80% of the share capital and reserves of Mustang Limited for $180 000.Share capital was $100 000 and reserves amounted to $50 000.All assets and liabilities were recorded at fair value except buildings which was recorded at $10 000 below fair value.The fair value of the NCI at the date of Jiminez's acquisition was $35 000 and the full goodwill method is adopted by the group.If the company tax rate was 30%,the goodwill recorded in relation to this business combination amounts to:

Xin Limited paid $12 000 for 75% of Yan Limited.At the date of acquisition Yan Limited had equity as follows: -Share capital of $10 000 -Retained earnings of $5 000 -Other reserves of $3 000 All of Y Limited's assets and liabilities were recorded at fair value.The fair value of identifiable net assets acquired by X Limited amounted to:

Lu Nan Limited acquired 80% of the share capital and reserves of Hui Limited for $20 000.Share capital was $10 000 and reserves amounted to $6 000.All assets and liabilities were recorded at fair value except plant which was recorded at $1 000 below fair value.The company tax rate was 30%.The partial goodwill method is adopted by the group.The amount of goodwill acquired by Lu Nan Limited in this business combination was:

According to AASB 10 Consolidated Financial Statements,the term 'non-controlling interest' means:

In a consolidated statement of financial position,the non-controlling interest is shown: