Assuming that Parent Inc acquires 80% of Sub Inc on August 1, 2018, what amount would appear in the Non-Controlling Interest (NCI) Account on the Consolidated Balance Sheet on the date of acquisition if the Proprietary Method were used?
A) Nil
B) $100,000
C) $120,000
D)$200,000

Question

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The Answer of Assuming that Parent Inc acquires 80% of Sub Inc on August 1, 2018, what amount would appear in the Non-Controlling Interest (NCI) Account on the Consolidated Balance Sheet on the date of acquisition if the Proprietary Method were used?
A) Nil
B) $100,000
C) $120,000
D)$200,000

Assuming That Parent Inc Acquires 80% of Sub Inc on August