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Plant Assets, Natural Resources, and Intangibles


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LO 1 Describe plant assets and factors in accounting for them.
LO 2 Compute the reported cost of plant assets.
LO 3 Explain the factors that determine depreciation.
LO 4 Compute and record depreciation using the straightline, units-of-production, declining-balance, and MACRS methods.
LO 5 Distinguish between and account for revenue expenditures and capital expenditures.
LO 6 Account for asset disposals and exchanges.
LO 7 Account for natural resources and their depletion.
LO 8 Account for intangible assets and their amortization.
LO 9 Compute total asset turnover and apply it for analysis.










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