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Question 102

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Use the following information for questions.
The balances in Belfast Inc.'s shareholders' equity accounts at December 31, 2020 are: Use the following information for questions. The balances in Belfast Inc.'s shareholders' equity accounts at December 31, 2020 are: At this, time, a financial reorganization was approved. Equipment was written down $ 101,800, and inventory increased $ 5,800. -As the first step of the reorganization, how much should the Common Shares account be adjusted by? A) $ 364,000 B) $ 400,000 C) $ 460,000 D) $ 1,000,000 At this, time, a financial reorganization was approved. Equipment was written down $ 101,800, and inventory increased $ 5,800.
-As the first step of the reorganization, how much should the Common Shares account be adjusted by?


A) $ 364,000
B) $ 400,000
C) $ 460,000
D) $ 1,000,000

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