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Find the nci share of equity at the date of acquisition was

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Problem 1: Biotech Limited acquired 80% of the share capital and reserves of Vaccine Limited for $300 000. Share capital was $200 000 and reserves amounted to $100 000. All assets and liabilities were recorded at fair value except buildings which was recorded at $20 000 below fair value. If the company tax rate was 30%, and the partial goodwill method was adopted, the NCI share of equity at the date of acquisition was:

Select one:

Option 1: $64 000
Option 2: $48 800
Option 3: $60 000
Option 4: $62 800

Reference no: EM132928156

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