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*Financial Reorganization The Following Shareholders' Equity Accounts Were Reported by India Inc

Question 91

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*Financial reorganization
The following shareholders' equity accounts were reported by India Inc. at December 31, 2020. *Financial reorganization The following shareholders' equity accounts were reported by India Inc. at December 31, 2020. A financial reorganization was approved. Equipment is to be written down by $ 68,000, and inventory increased by $ 5,200. Instructions Prepare the required journal entries for the financial reorganization. A financial reorganization was approved. Equipment is to be written down by $ 68,000, and inventory increased by $ 5,200.
Instructions
Prepare the required journal entries for the financial reorganization.

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