Wolfe Chapter 9_1

Wolfe Chapter 9_1 - Chapter 9 P lick to edit Master...

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Click to edit Master subtitle style 12/17/10 Property, Plant, and Equipment; Natural Resources and Intangibles Chapter 9
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12/17/10 Long-Term Assets “…PP&E and intangible properties held for production, rental to others, or administrative purposes or the development, construction, maintenance, or repair of other assets.” Tangible Assets - have physical substance: Land, Buildings, Fixtures, Equipment, and Natural Resources (gold, oil, etc.) Intangible Assets – have no physical substance: copyrights, trademarks, software, customer lists. Often arise from
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12/17/10 Property, Plant, and Equipment Land, buildings, fixtures, equipment, and natural resources Tangible assets-have physical substance To be used by the entity on a continuing basis-not intended for sale in the ordinary course of business Recorded at cost at time of purchase Purchase price and related acquisition cost: legal costs, transportation costs, installation costs Assets bought as part of a basket purchase-
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12/17/10 E9-6
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12/17/10 Repairs and Betterments
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This note was uploaded on 12/16/2010 for the course AFM 101 taught by Professor Kennedy during the Fall '08 term at Waterloo.

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Wolfe Chapter 9_1 - Chapter 9 P lick to edit Master...

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