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I want the answer to the table, please A new CEO was hired to revive the floundering KokxCorporation. The company had endured operating losses for

I want the answer to the table, please image text in transcribed
A new CEO was hired to revive the floundering KokxCorporation. The company had endured operating losses for several years, but confidence was emerging that better times were shead. The board of directors and shareholders approved a quasi-reorganization for the corporation. The reorganization included increasing building and equipment for obsolescence by $150 million and increasing inventory by $40 million. Immediately before the restatement, at December 31, 2018, Koks Corporation's balance sheet appeared as follows (in condensed form) Koks Corporation BALANCE SHEET At December 31, 2018 ($ in milliona) Cash $ 80 Receivables 100 Inventory 320 Land 1150 Buildings and equipment (net) 250 $1900 Liabilities $320 Common stock (500 million shares at $2 par) 1900 Additional paid in capital 180 Retained earnings (deficit) (500) $1900 Required: 1. Prepare the journal entries appropriate to record the quasi-reorganization on January 1, 2019. 2. Prepare a balance sheet as it would appear immediately after the restatement. 1- Jourmal entry(+-) Date Des Cr 2

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