The December 31, 2024, adjusted trial balance of Odom Company includes the following accounts: Determine which accounts
Question:
The December 31, 2024, adjusted trial balance of Odom Company includes the following accounts:
Determine which accounts are non-current assets and prepare the non-current assets section of the balance sheet as at December 31, 2024.
Supplies Notes payable (due March 1, 2026) Accumulated depreciation-equipment Equipment Accumulated depreciation-building Notes receivable (due April 1, 2025) $ 2,900 28,000 25,800 43,000 37,400 7,800 Land Building Trademarks Goodwill Merchandise inventory $ 85,000 125,000 12,300 5,520 14,000
Step by Step Answer:
ODOM COMPANY Balance Sheet December 31 2024 Noncurrent ...View the full answer
Accounting Principles Volume 1
ISBN: 9781119786818
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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