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How much debited or credited to the reorganization account

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Question - 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 $443,719 for land, $319,679 for buildings, and $40,337 for goodwill. Under the reorganization plan, the fair values of these assets are determined to be $346,905 for land and$247,069 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?

Reference no: EM133146945

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