Acquisitions of additional shares of a subsidiary once control has been achieved Assume that a parent company increases its ownership in a subsidiary from 60% to 75% by the purchase of additional shares of the subsidiarys outstanding stock from noncontrolling shareholders for a purchase price of $120,000. Assume that the noncontrolling interest reports a balance of $1,080,000 on that date. Prepare the journal entry by the parent to record the purchase.