Waratah Ltd acquired a 60% ownership interest in Bottle Brush Ltd on 30 June 20X5.On the same day,Bottle Brush Ltd acquired a 70% ownership interest in Honeydew Ltd.
The following interentity transactions have taken place between the entities in the group during the years ended 30 June 20X6 and 30 June 20X7.
On 1 July 20X5 Bottle Brush sold an item of plant to Honeydew for a profit of $20 000.The remaining useful life of the plant at the date of transfer was 4 years.
$\bullet$On 1 September 20X5,Honeydew paid a dividend of $70 000 from profits earned since 30 June 20X5.
$\bullet$Waratah lent $50 000 to Bottle Brush on 1 January 20X6.Interest charged on the loan for the year ended 30 June 20X6 was $2000 and for the year ended 30 June 20X7 was $4000.
On 31 May 20X6 Waratah sold inventory to Honeydew for $15 000.Profit earned on the sale was $5000.Honeydew sold the inventory to external parties on 1 August 20X6.
Details of profits earned by entities within the group for the years ended 30 June 20X6 and 30 June 20X7 are:

The tax rate is 30%.
The NCI share of profit in Honeydew for the year ended 30 June 20X7 is:

Question

Waratah Ltd acquired a 60% ownership interest in Bottle Brush Ltd on 30 June 20X5.On the same day,Bottle Brush Ltd acquired a 70% ownership interest in Honeydew Ltd.
The following interentity transactions have taken place between the entities in the group during the years ended 30 June 20X6 and 30 June 20X7.
On 1 July 20X5 Bottle Brush sold an item of plant to Honeydew for a profit of $20 000.The remaining useful life of the plant at the date of transfer was 4 years.
$\bullet$On 1 September 20X5,Honeydew paid a dividend of $70 000 from profits earned since 30 June 20X5.
$\bullet$Waratah lent $50 000 to Bottle Brush on 1 January 20X6.Interest charged on the loan for the year ended 30 June 20X6 was $2000 and for the year ended 30 June 20X7 was $4000.
On 31 May 20X6 Waratah sold inventory to Honeydew for $15 000.Profit earned on the sale was $5000.Honeydew sold the inventory to external parties on 1 August 20X6.
Details of profits earned by entities within the group for the years ended 30 June 20X6 and 30 June 20X7 are:

The tax rate is 30%.
The NCI share of profit in Honeydew for the year ended 30 June 20X7 is:

Quizplus · Accepted Answer

The Answer of Waratah Ltd acquired a 60% ownership interest in Bottle Brush Ltd on 30 June 20X5.On the same day,Bottle Brush Ltd acquired a 70% ownership interest in Honeydew Ltd.
The following interentity transactions have taken place between the entities in the group during the years ended 30 June 20X6 and 30 June 20X7.
On 1 July 20X5 Bottle Brush sold an item of plant to Honeydew for a profit of $20 000.The remaining useful life of the plant at the date of transfer was 4 years.
$\bullet$On 1 September 20X5,Honeydew paid a dividend of $70 000 from profits earned since 30 June 20X5.
$\bullet$Waratah lent $50 000 to Bottle Brush on 1 January 20X6.Interest charged on the loan for the year ended 30 June 20X6 was $2000 and for the year ended 30 June 20X7 was $4000.
On 31 May 20X6 Waratah sold inventory to Honeydew for $15 000.Profit earned on the sale was $5000.Honeydew sold the inventory to external parties on 1 August 20X6.
Details of profits earned by entities within the group for the years ended 30 June 20X6 and 30 June 20X7 are:

The tax rate is 30%.
The NCI share of profit in Honeydew for the year ended 30 June 20X7 is:

Waratah Ltd Acquired a 60% Ownership Interest in Bottle Brush ∙\bullet∙

Waratah Ltd Acquired a 60% Ownership Interest in Bottle Brush $\bullet$