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What else can I help you with?
What is the real asset?
Plant Assets are included in this.
What is the recordable cost of a plant asset?
The record able cost of a plant asset is most likely the cost of the plant asset at acquisition. This would include equipment costs, training of employees, sales taxes, freight costs, and the like.
The balance in the Accumulated Depreciation account represents the?
amount charged to expense since the acquisition of the plant asset.
The balance of accumulated depreciation account represents the?
amount charged to depreciation expense since the acquisition of the plant asset.
The acquisition costs of property plant and equipment should include all normal reasonable and necessary costs to get the asset in place and ready for use true or false?
true
What is plant asset Discuss the three types of plant asset?
Property, plant, and equipment
How is the cost principle applied to plant assets acquisitions including lump-sum purchases?
The cost principle requires that plant assets be recorded at their acquisition cost, which includes all expenditures necessary to acquire the asset and prepare it for use. In the case of lump-sum purchases, the total cost is allocated among the individual assets based on their fair market values at the time of acquisition. This ensures that each asset reflects its appropriate share of the total cost in the financial statements. Overall, the cost principle ensures that the recorded value of plant assets accurately represents the investment made in them.
Is plant asset intangible?
No it is tangible.
Is it true that the original cost of a plant asset includes only the amount paid the vendor for the plant asset?
It is the amount of time it takes for you to cause an erect plant to ejaculate. You do not count the time where the plant is flaccid. You begin counting the cost of the asset once it has become erect.
Dfine the cost of plant assets?
The cost of plant assets, also known as property, plant, and equipment (PP&E), includes all expenditures necessary to acquire the asset and prepare it for its intended use. This encompasses the purchase price, shipping and handling fees, installation costs, and any other expenses directly related to bringing the asset to operational condition. Additionally, costs for improvements or upgrades that extend the asset's useful life may also be included. However, routine maintenance and repairs are typically expensed as incurred and not capitalized as part of the asset’s cost.
What is a plant asset on the balance sheet?
Plant asset is the machinery asset which a business use to make units of products for selling purpose to generate revenue for business.
When a plant asset is acquired by issuance of common stock the cost of the plant asset is properly measured by the?
Type your answer here... par value of the stock
