Question

Information related to plant assets, natural resources, and intangible assets at the end of 2022 for Tamarisk, Inc. is as follows: buildings $1,140,000, accumulated depreciation—buildings $652,000, goodwill $421,000, coal mine $509,000, and accumulated depletion—coal mine $107,000. Prepare a partial balance sheet of Tamarisk, Inc. for these items.

Answer 1

Partial balance sheet of Tamarisk, Inc.

Non Current Assets :

Buildings $1,140,000

Less accumulated depreciation—buildings ($652,000) $488,000

Coal mine $509,000

Less accumulated depletion—coal mine ($107,000) $402,000

Goodwill $421,000

Total $1,311,000

Step-by-step explanation:

The Items above are Non- Current Assets. Non Current Assets are resources expected to generate economic benefits for a period exceeding 12 months.