CIMA F2 Advanced Financial Reporting F2 Question # 16 Topic 2 Discussion

CIMA F2 Advanced Financial Reporting F2 Question # 16 Topic 2 Discussion

F2 Exam Topic 2 Question 16 Discussion:
Question #: 16
Topic #: 2

XY owned 60% of the equity share capital of AB at 1 January 20X6.  XY acquired a further 20% of AB's equity share capital on 31 December 20X6 for $500,000.  The non controlling interest in AB was measured at $720,000 immediately prior to the 20% acquisition.

Calculate the amount that XY debited to non controlling interest when it accounted for the 20% acquisition in its consolidated financial statements at 31 December 20X6.

Give your answer to the nearest $000.

$ ?  000


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