Information related to plant assets, natural resources, and intangibles at the end of 2020 for Concord Company is as follows: buildings $1,030,000, accumulated depreciation—buildings $653,000, goodwill $410,000, coal mine $496,000, and accumulated depletion—coal mine $108,000.

A.nswer and Explanation:

The preparation of the partial balance sheet is as follows;

Assets

Long term assets:  

Plant, property & equipment

Coal mine $496,000

Less: Acc. depletion, coal mines -$108,000     $388,000

Buildings $1,030,000

Less: Acc. depreciation, buildings - $653,000  $377,000

Total Plant, property & equipment                       $765,000

Goodwill                                                                $410,000

Total long term assets                                          $1,175,000

(a) when insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.

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answer; ///deficit;