The balances in Wildhorse Inc.'s shareholders' equity accounts at December 31, 2023 are: Common shares, no par, 54500 authorized, 43600 outstanding $1438800 Retained earnings (deficit) (363000) At this, time, a financial reorganization was approved. Equipment was written down $99800, and inventory increased $6300. As the first step of the reorganization, how much should the Common Shares account be adjusted by? Select answer from the options below $363000 $1111800 $501400 $ 436000 When I did the calculation 501400 is not the answer.
The balances in Wildhorse Inc.'s shareholders' equity accounts at December 31, 2023 are: Common shares, no par, 54500 authorized, 43600 outstanding $1438800 Retained earnings (deficit) (363000) At this, time, a financial reorganization was approved. Equipment was written down $99800, and inventory increased $6300. As the first step of the reorganization, how much should the Common Shares account be adjusted by? Select answer from the options below $363000 $1111800 $501400 $ 436000 When I did the calculation 501400 is not the answer.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The balances in Wildhorse Inc.'s shareholders' equity accounts at December 31, 2023 are: Common shares, no par, 54500 authorized, 43600 outstanding $1438800
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