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What is revaluation of plant assets?
A plant asset is an asset such as land, buildings, and machinery that will be useful for more than one year and is used to help produce revenues for a business. Plant assets are also known as fixed assets. Revaluation of plant/fixed assets is the process of increasing or decreasing their carrying value in the event of major changes in the fair market value of the assets.
The book value of an asset is the same as market value of the asset?
Book value of an asset is the value which is shown in books of accounts while market value of asset is the value which is currently same asset is selling in market so both of these values are not same but it can be same but normally they are not same.
Should the book value of a plant asset approximate its market value?
i keeps the e and j sitin bent up in the stair way
What is Book value vs fair value?
Book value is the value of asset shown in financial statements while fair value is the value at which asset can be sold in market
Difference between book value and fair value in accounting?
Book value of asset is the value of asset shown in books of accounts while fair value of asset is the current price at which that product is selling or sellable in market.
What is another name for book value for an asset?
carrying value
If a plant asset is retired before it is fully depreciated and no salvage value is received?
If a plant asset is retired before it is fully depreciated and no salvage value is received, the remaining book value of the asset is recognized as a loss on the financial statements. This loss reflects the difference between the asset's carrying amount and its zero salvage value. The loss will affect the company's net income for the period in which the retirement occurs. Proper accounting treatment ensures that financial records accurately reflect the asset's disposal and its impact on the company's financial position.
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
How is the net book value of a depreciable asset calculated?
The net book value of a depreciable asset is calculated by deducting the accumulated depreciation from the original cost of the asset. Accumulated depreciation is the total depreciation expense recorded over the life of the asset. This calculation allows for the determination of the asset's value at a specific point in time.
The cost of a depreciable asset less accumulated depreciation reflects the book value of the asset?
true
Is book value reported on the balance sheet?
Yes book value of any asset is the value which is shown in balance sheet of company while market value is not shown anywhere it is the price which any asset is saleable in market.
Difference between book value and par value?
Book value is the value that is written into a company's books for as asset. Par value, is the face value of an asset, as it is entered into the company's charter. The difference between the two is where it is entered, and how one arrives at the figure.
