[odegbami]

First Attempt 56%. Started reading seriously a week to the exam. Thank God

[odegbami]

Thank you very much for this

[odegbami]

Thank you Open Tuition. I passed . Thank you Chris!!!You da best…. On to the next one. May the Good Lord crown all our efforts and reward us with success

[odegbami]

I believe the answer is:

FV NCI at Acquisition 50,000
(20,000 *2.5)

% share of Post Acq. profit 6,000
(40,000*9/12*0.20)
NCI at YE = 56,000

This is the formula used in computing NCI at YE using FV.

The Land revaluation doesn’t come into place here seeing as the formula in BPP states NCI’S FV at acquisition + NCI% of post Acquisition profit.

The 80,000 doesn’t qualify as that is the pre-acquisition profit.

Look at page 131 on BPP

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