47 - Intangibles Amortization Cost of a Plant Asset Sum of...

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Plant Assets and Intangibles Categories of Long-Lived Assets Plant assets Tangible Include land, buildings and equipment Intangible assets Carry special rights without physical substance Include patents, copyrights and trademarks Plant Asset Terminology Asset Accounts Related Expense Account (Balance Sheet) (Income Statement) Plant Assets Land None Depreciation Depreciation Land Improvements Depreciation Natural Resources Depletion
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Unformatted text preview: Intangibles Amortization Cost of a Plant Asset Sum of all the costs incurred to bring the asset to its intended use Land Purchase price, commissions, survey & legal costs, removal of old buildings Land Improvements Fencing, paving, security systems, lighting Buildings Purchase price, commissions, sales & other taxes, repairs & renovation for intended use Machinery & Equipment Purchase price, Insurance in transit, sales taxes, installation...
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This note was uploaded on 06/15/2011 for the course ACCT 23020 taught by Professor Dorff,p during the Spring '08 term at Kent State.

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47 - Intangibles Amortization Cost of a Plant Asset Sum of...

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