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Control -> control (change in ownership)
We are buying the appropriate part of the NCI’s entitlement to the subsidiary’s net assets, including
An increase in ownership resulting in a reduction in non-controlling interest. Transfer from the noncontrolling interest.
DR NCI X
DR Retained earnings (balancing figure) X
CR Bank X
As we have not acquired a subsidiary, there is no gain or loss to be calculated, it is just a transfer between owners
1.)Could you please show double entry at parent and group level?
2.) Cr Bank is at company level or group level. Group level has no bank ac right?
Dr Financial asset Cr Cash
Journal as you have set it out above
So Cr bank is in both parent and group
You will be asked about group, so, as always, keep it simple. 🙂