{"id":766,"date":"2015-05-13T17:02:25","date_gmt":"2015-05-13T17:02:25","guid":{"rendered":"https:\/\/courses.candelalearning.com\/finacct2x10xmaster\/?post_type=part&#038;p=766"},"modified":"2018-02-10T15:37:43","modified_gmt":"2018-02-10T15:37:43","slug":"unit-12-plant-assets-and-intangible-assets","status":"web-only","type":"part","link":"https:\/\/courses.lumenlearning.com\/clinton-finaccounting\/part\/unit-12-plant-assets-and-intangible-assets\/","title":{"raw":"Unit 11: Plant Assets and Intangible Assets","rendered":"Unit 11: Plant Assets and Intangible Assets"},"content":{"raw":"<div class=\"bcc-box bcc-highlight\">\r\n<h3>Learning Objectives<\/h3>\r\nBy the end of this section, you will be able to:\r\n<div>\r\n<ul>describe the accounting and reporting of plant and intangible assets and natural resources.\r\n \t<li>Prepare entries for cash and lump-sum purchases of property, plant and equipment.<\/li>\r\n \t<li>Define \"depreciation\" as the term is used by accountants.<\/li>\r\n \t<li>Identify factors that affect the determination of service life.<\/li>\r\n \t<li>Compute depreciation by using the following methods:\r\n1. Straight-line\r\n2. Units-of activity\r\n3. Declining balance<\/li>\r\n \t<li>Compute book value.<\/li>\r\n \t<li>Journalize entries for disposal of property, plant and equipment assets for the following circumstances:\r\n1.Write-off\r\n2. Sale of the asset\r\n3. Trade-in of similar assets<\/li>\r\n \t<li>Define \"depletion\" as the term is used by accountants.<\/li>\r\n \t<li>Compute depletion for a given cost, residual value, and estimated output.<\/li>\r\n \t<li>Journalize adjusting entries for the recording of:\r\n1.Depreciation\r\n2. Depletion<\/li>\r\n \t<li>Identify and describe various types of intangible assets.<\/li>\r\n \t<li>Calculate and record amortization of intangible assets<\/li>\r\n<\/ul>\r\n<\/div>\r\n<\/div>","rendered":"<div class=\"bcc-box bcc-highlight\">\n<h3>Learning Objectives<\/h3>\n<p>By the end of this section, you will be able to:<\/p>\n<div>\n<ul>\n<li>Prepare entries for cash and lump-sum purchases of property, plant and equipment.<\/li>\n<li>Define &#8220;depreciation&#8221; as the term is used by accountants.<\/li>\n<li>Identify factors that affect the determination of service life.<\/li>\n<li>Compute depreciation by using the following methods:<br \/>\n1. Straight-line<br \/>\n2. Units-of activity<br \/>\n3. Declining balance<\/li>\n<li>Compute book value.<\/li>\n<li>Journalize entries for disposal of property, plant and equipment assets for the following circumstances:<br \/>\n1.Write-off<br \/>\n2. Sale of the asset<br \/>\n3. Trade-in of similar assets<\/li>\n<li>Define &#8220;depletion&#8221; as the term is used by accountants.<\/li>\n<li>Compute depletion for a given cost, residual value, and estimated output.<\/li>\n<li>Journalize adjusting entries for the recording of:<br \/>\n1.Depreciation<br \/>\n2. Depletion<\/li>\n<li>Identify and describe various types of intangible assets.<\/li>\n<li>Calculate and record amortization of intangible assets<\/li>\n<\/ul>\n<\/div>\n<\/div>\n","protected":false},"parent":0,"menu_order":109,"template":"","meta":{"pb_part_invisible":false,"pb_part_invisible_string":""},"contributor":[],"license":[],"class_list":["post-766","part","type-part","status-web-only","hentry"],"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-finaccounting\/wp-json\/pressbooks\/v2\/parts\/766","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-finaccounting\/wp-json\/pressbooks\/v2\/parts"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-finaccounting\/wp-json\/wp\/v2\/types\/part"}],"version-history":[{"count":0,"href":"https:\/\/courses.lumenlearning.com\/clinton-finaccounting\/wp-json\/pressbooks\/v2\/parts\/766\/revisions"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/clinton-finaccounting\/wp-json\/wp\/v2\/media?parent=766"}],"wp:term":[{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-finaccounting\/wp-json\/wp\/v2\/contributor?post=766"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/clinton-finaccounting\/wp-json\/wp\/v2\/license?post=766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}