Multiple Choice
Ryan Company owns 80% of Chase Company. The original balances presented for Ryan and Chase as of January 1, 2011 are as follows:
Assume Chase reacquired 8,000 shares of its common stock from outsiders at $10 per share.
When Ryan's new percent ownership is rounded to a whole number, what adjustment is needed for Ryan's investment in Chase account?
A) $16,000 decrease.
B) $60,000 decrease.
C) $64,000 increase.
D) $64,000 decrease.
E) No adjustment is necessary.
Correct Answer:
Verified
Correct Answer:
Verified
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