29 - Consol Changes In Ownership

Question 1

Additional investment workings and journal entry?

Answer 1

Additional inv
Net assets acquired from NCI (% x NA)
Loss to retained earnings x

Dr SFP NCI
Dr retained earnings
Cr Investment

Question 2

Journal entry for decrease in controlling shareholding?

Answer 2

Dr Bank
Cr NCI SFP
Cr Retained Earnings

Question 3

Journal entry and calc for full disposal?

Answer 3

Proceeds
CA of goodwill (X)
Net assets disposed of

Dr Bank
Dr SFP NCI 
  Cr Goodwill
  Cr net assets (100%)
  Cr SPL gain on disposal