The following accounts appear in an adjusted trial balance of Brock Pool Service Company. Indicate whether each account would be reported in the (a) current assets, (b) property, plant, and equipment, (c) current liabilities, (d) long-term liabilities, or (e) owner's equity section of the December 31, 2010, balance sheet of Brock Pool Service Company.
Definitions:
Net Book Value
The total value of a company's assets minus its liabilities and intangible assets, indicating the net worth of the company's tangible assets.
Consolidated Net Income
The combined net income of a parent company and its subsidiaries, factoring in the effects of intercompany transactions.
Equity Method
An accounting technique used for recording investments in associate companies where the investment is initially recorded at cost and subsequently adjusted for the investor’s share of the net profits or losses of the investee.
Consolidation Worksheet Entries
Journal entries used in preparing consolidated financial statements, helping to adjust and eliminate internal transactions between parent and subsidiary entities.
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