【每日一练】ACCA F7（Sep 2016）

Please use the grid provided on page two of the Candidate Answer Booklet to record your answers to each multiple choice question. Do not write out the answers to the MCQs on the lined pages of the answer booklet.
Each question is worth 2 marks.

Rooney Co acquired 70% of the equity share capital of Marek Co, its only subsidiary, on 1 January 20X6. The fair value of the non-controlling interest in Marek Co at acquisition was $1·1m. At that date the fair values of Marek Co’s net assets were equal to their carrying amounts, except for a building which had a fair value of $1·5m above its carrying amount and 30 years remaining useful life.
During the year to 31 December 20X6, Marek Co sold goods to Rooney Co, giving rise to an unrealised profit in inventory of $550,000 at the year end. Marek Co’s profit after tax for the year ended 31 December 20X6 was $3·2m.
What amount will be presented as the non-controlling interest in the consolidated statement of financial position of Rooney Co as at 31 December 20X6?
A $1,895,000
B $1,495,000
C $1,910,000
D $1,880,000 

Answer：

D
FV of NCI at acquisition                             1,100
Profit for year x 30%             3,200
Depn on FVA (1·5m/30)         (50)
Unrealised profit                   (550)

                                             ––––––
                                        2,600 x 30%        780

                                                                 –––––
                                                                 1,880
                                                                 –––––

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