Ryan Conpany purchased 80%% of Chase Company for $270.000 when Chase's book value was $300,000. Ryan paid no premium. Chase has 50.000 shares outstanding and currentlyy has a book value of 5400,000 Assume Chase reacquired 8,000 shares of its common stock from outsiders at S10 per share. 17) When Ryan's new percent ownership is rounded to a whole number, what adjustment is needed for Ryan's investment in Chase account? A) $46,000 decrease. B) $16,000 decrease. C) $46,000 increase. D) No adjustment is necessary. E) $60,000 decrease. 17) R 18) Vontkins Inc. owned all of Quasimota Co. The subsidiary had bonds payable outstanding on January 1, 2017, with a book value of $265,000. The parent acquired the bonds on that date for S288,000. Subsequently, Vontkins reported interest income of $25,000 in 2017 while Quasimota reported interest expense of $29,000. Consolidated financial statements were prepared for 2018. What adjustment would be required for the retained earnings balance as of January 1. 20187 A) Reduction of $30,000. B) Reduction of $20,000 C) Reduction of $4,000. 18) D) Reduction of $27,000. E) Reduction of $19,000. original co Wilson owned equipment with an estimated life of 10 years when the equipment was of $80,000. The equipment had a book value of $50,000 at January 1, 2017. On January 1, 2017, Wilson realized that the useful life of the equipment was longer than originally anticipated, at ten remaining years. acquired for an On April 1, 2017 Simon Company, a 90 % owned subsidiary of Wilson Company, bought the equipment from Wilson for $68,250 and for depreciation purposes used the estimated remaining life as of that date. The followin data are available pertaining to Simon's income and dividends declared: 2019 2018 2017 130,000 $ 120,000 100,000 Net income 60,000 50,000 40,000 Dividends declared 19) Compute the amortization of gain through a depreciation adjustment for 2019 for consolidation purposes. A) $1,825 19) D)$1,500 E) $2,000. C) $7,000 B) $1,925