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Chapter 9 Plant Assets, Natural Resources, Intangible Assets \table[[Asset,Cost Allocation,Cost Allocation Methods],[\table[[Property, Plant,...

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Accounting

Chapter 9 Plant Assets, Natural Resources, Intangible Assets
\table[[Asset,Cost Allocation,Cost Allocation Methods],[\table[[Property, Plant, Equipment, Land Improvements (cost],[includes all expenditures necessary to acquire the asset and],[get it ready for its intended use)]],Depreciation,\table[[Straight-Line],[Double Declining Balance],[Units of Activity]]],[Natural Resources,Depletion,Units of Activity],[Intangible Assets,Amortization,Straight Line]]
Depreciation Terminology
Salvage Value:
Depreciable Cost:
Straight Line Rate (SLR):
Accumulated Depreciation:
Book Value:
Disposing of an Asset
Update Depreciation and the related Accumulated Depreciation account, if necessary.
Calculate the Gain or Loss.
Record the disposal
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