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work with IND as Illustration 14. On 1-4-X6 BM Ltd. acquired 80% share of CM Ltd. at 1000000, when the fair value of its net

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work with IND as

Illustration 14. On 1-4-X6 BM Ltd. acquired 80% share of CM Ltd. at 1000000, when the fair value of its net assets was 1000000 During 1-4-x6 to 31-3-x7 CM Ltd made TCI 120000. On that date BM sold 20% holding to outsiders at 280000. Pass journal entries for sale of partial holding retaining control

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