Consolidation for NCI

[aviery]

Background: Client owns 100% of subsidiary, S1 which has negative net assets of S$(10,000). On 29 May'2019, there was an injection of equity resulting in additional shares issuance. Details of issuance as follow:

Owner: S$150,000
NCI: S$50,000

This brings the shareholding to 85% (owner) and 15% (NCI).

I will like to know how do I account for the NCI in consolidation and the accounting entries.

Thank you!

 

[alexm]

	Parent​	Subsidiary​	Investment elimination​	Subsidiary equity elimination​	Non-controlling interest​	Consolidated​
Investment	150,000​	​	-150,000​			0​
Cash	-150,000​	200,000​				50,000​
Share capital		-200,000​	​	150,000​	50,000​	0​
Equity elimination			150,000​	-150,000​		0​
Non-controlling interest					-50,000​	-50,000​