Homework Answers
Ans: Pillow Company
a) Computation of Minority Interest
| Shareholders fund of Sleep company | |
| Particulars | Amount ($) |
| Current assets | 200000 |
| Fixed assets | 350000 |
| Total assets | 550000 |
| Less | |
| Liabilities | 200000 |
| Shareholder's fund | 350000 |
| Computation of Minority interest | ||
| Particulars | Amount ($) | |
| Shareholder's fund | 350000 | |
| less | Share of Pillow company | 280000 |
| Minority interest | 70000 | |
b) Presentation of Minority Interest in consolidated balance sheet
| Consolidated Balance sheet of Pillow Company | |
| Particulars | Amount ($) |
| Shareholders fund and Liabilities | |
| Shareholder's fund | |
| Share capital | |
| Reserves and Surplus | |
| Minority Interest | 70000 |
| Liabilities | |
| Total Shareholders fund and Liabilities | |
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