[azlinamy]

I have similar Question like this. What should i do if:

Company A (parent co) acquired a 60% interest in Company B for $600,000 at the end of 20X1. The Company B’s net assets was $300,000.

On May 20X2, Co. A sold 9% of its investment in Co. B for RM40,500, retaining a 51% controlling interest in Co. B. The carrying value of Co B’s net assets at 9 May 20X2 is RM150,000.

Quest:
1) What is the double entry should be taken in Co.A (parent)?
2) Any Permanent / Consol adjustment to raise in Co. A?

Thanking you in advance for helping me to understand this.

[Author]

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