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Level 1
posted Mar 15, 2022 9:48:38 AM

New LLC where do I put the mineral rights that each partner contributed

First year LLC holding mineral rights total value 180,000. Where do the mineral value go on the asset side of balance sheet. I have the appropriate capital account side @180000

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1 Replies
Expert Alumni
Mar 15, 2022 10:55:13 AM

Mineral rights are intangible assets and are reported on the balance sheet on line 12a of Schedule L.