Acquisitions of additional shares of a subsidiary once control has been achieved Assume that a parent company increases its ownership in a subsidiary from 55% to 75% through the purchase of additional shares of the subsidiary's outstanding stock from noncontrolling shareholders for a purchase price of $110,000. Prior to this transaction, the noncontrolling interest reports a balance of $900,000 on that date. Prepare the journal entry by the parent to record the purchase. Description Credit Debit 303,750 0 Equity investment APIC 0 Cash 0 110,000