XYZ Inc is going through a reorganization and will do a comprehensive revaluation of its...
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XYZ Inc is going through a reorganization and will do a comprehensive revaluation of its assets and liabilities. Its assets have net book values of $600,829 for land, $432,869 for buildings, and $54,617 for goodwill. Under the reorganization plan, the fair values of these assets are determined to be $469,725 for land and$334,549 for buildings, while the goodwill will be completely written off. How much will be debited or credited to the Reorganization Account under this comprehensive revaluation of assets and liabilities? a. $276,940 b. $305,344 c. $298,243 d. $284,041 e. $291,142
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