Homework answers / question archive / P Ltd paid $300 million to acquire 80% of S Ltd on 1 January 20x8 when S Ltd's net assets at fair value were represented by share capital of $100 million and retained profit of $200 million

P Ltd paid $300 million to acquire 80% of S Ltd on 1 January 20x8 when S Ltd's net assets at fair value were represented by share capital of $100 million and retained profit of $200 million

Accounting

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P Ltd paid $300 million to acquire 80% of S Ltd on 1 January 20x8 when S Ltd's net assets at fair value were represented by share capital of $100 million and retained profit of $200 million. For the year ended 31 December 20x8, S Ltd's "profit after tax" was $30 million and it paid cash dividends of $10 million. The group policy was to measure non-controlling interest based on its share of the acquisition-date fair value of identifiable net assets of subsidiary acquired. In the 20x8 consolidated financial statements, the "Profit after tax attributable to non-controlling interest" in the consolidated statement of profit or loss and other comprehensive income and the "Non-controlling interest" in the consolidated statement of financial position should be respectively:
Group of answer choices
-$4 million and $64 million.
-$4 million and $66 million.
-$6 million and $66 million.
-None of the listed choices.
-$6 million and $64 million.

Which option is it?