0
Purchases of plant and equipment can be determined from the cash flow statement, specifically the investing activities section, which details cash outflows for property, plant, and equipment (PP&E). Additionally, analyzing the balance sheet can provide insights into changes in PP&E by comparing the current and previous periods. The notes to the financial statements often include further disclosures related to capital expenditures, offering a clearer picture of investment in plant and equipment.
What else can I help you with?
Who is pecuniarily liable for GPC purchases they certify for payment that may later be determined illegal?
Certifying officials are pecuniarily liable for GPC purchases they certify for payment that may later be determined illegal.
What is the journal entry a company would record when it purchases equipment and pays cash?
[Debit] Equipment account [Credit] Cash / bank
When a company purchases equipment on account what journal entries are created?
debit equipmentcredit accounts payable
Which Accounting standard governs treatment of property and equipment?
IAS - 16 Property, Plant and Equipment deals with matters governing of property and equipment.
What is accounting for plant assets?
Plant assets are costs that include all normal and reasonable expenditures necessary to get the asset in place and ready for its intended use, (Wild, Shaw & Chippetta, 2009). Some of the costs are land, land improvement, buildings, machinery, equipment and lump sum purchases. Plant assets are different from other assets for a couple reasons. One is that they are used in the companies operations. Another difference is that they are used over several accounting periods.
Do companies typically send checks as payment for equipment purchases?
Yes, companies often send checks as payment for equipment purchases.
Who is pecuniarily liable for GPC purchases they certify for payment that may later be determined illegal?
Certifying officials are pecuniarily liable for GPC purchases they certify for payment that may later be determined illegal.
How do you find and interpret the the accounting ratio for plant and equipment turnover?
Plant and equipment turnover ratio gives an indication of managment's ability to generate sales based upon investments in plants and equipment. Plant and Equipment Turnover = Sales / Average Total Plant and Equipment Inventories
What is the journal entry a company would record when it purchases equipment and pays cash?
[Debit] Equipment account [Credit] Cash / bank
When a company purchases equipment on account what journal entries are created?
debit equipmentcredit accounts payable
How is the type of debris removal equipment determined?
equipment needed is related to the size and amount of debris to be cleared
How Will My Rate On Equipment Leasing Be Decided?
Rates will be determined primarily based on how much of a financial risk you are. The amount of risk you represent is determined by credit history, the cost of the equipment, number of years in business and the equipment lease structure you would like.
What is plant asset Discuss the three types of plant asset?
Property, plant, and equipment
Types of consruction plant and equipment?
what???
What pieces of equipment can be used when measuring the mass of a test tube?
Mass is determined by weighing, so the piece of equipment is a scale.
What is the application of the matching principleto depreciation of plant and equipment can best be described as?
What is The application of the matching principle to depreciation of plant and equipment can best be described as?
What equipment is needed for tulips?
the equipment needed is soil, a shovel, and a warm place to plant it:]
