Ryan Company purchased 80% of Chase Company for $240,000 when Chase's book value was $300,000....
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Ryan Company purchased 80% of Chase Company for $240,000 when Chase's book value was $300,000. Chase has 50,000 shares outstanding and currently has a book value of $400,000 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? $46,000 decrease. $60.000 decrease. O $46,000 increase $16.000 decrease. No adjustment is necessary
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