{"id":182,"date":"2016-12-05T19:58:48","date_gmt":"2016-12-05T19:58:48","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/tc3-accounting1\/part\/unit-11-plant-assets-and-intangible-assets\/"},"modified":"2018-02-10T23:53:48","modified_gmt":"2018-02-10T23:53:48","slug":"unit-11-plant-assets-and-intangible-assets","status":"publish","type":"part","link":"https:\/\/courses.lumenlearning.com\/tc3-accounting1\/part\/unit-11-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\">\n<h3>Learning Objectives<\/h3>\nBy the end of this section, you will be able to:\n<div>\n<ul>describe the accounting and reporting of plant and intangible assets and natural resources.\n \t<li>Prepare entries for cash and lump-sum purchases of property, plant and equipment.<\/li>\n \t<li>Define \"depreciation\" as the term is used by accountants.<\/li>\n \t<li>Identify factors that affect the determination of service life.<\/li>\n \t<li>Compute depreciation by using the following methods:\n1. Straight-line\n2. Units-of activity\n3. Declining balance<\/li>\n \t<li>Compute book value.<\/li>\n \t<li>Journalize entries for disposal of property, plant and equipment assets for the following circumstances:\n1.Write-off\n2. Sale of the asset\n3. Trade-in of similar assets<\/li>\n \t<li>Define \"depletion\" as the term is used by accountants.<\/li>\n \t<li>Compute depletion for a given cost, residual value, and estimated output.<\/li>\n \t<li>Journalize adjusting entries for the recording of:\n1.Depreciation\n2. Depletion<\/li>\n \t<li>Identify and describe various types of intangible assets.<\/li>\n \t<li>Calculate and record amortization of intangible assets<\/li>\n<\/ul>\n<\/div>\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":12,"template":"","meta":{"pb_part_invisible":false,"pb_part_invisible_string":""},"contributor":[],"license":[],"class_list":["post-182","part","type-part","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/tc3-accounting1\/wp-json\/pressbooks\/v2\/parts\/182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/tc3-accounting1\/wp-json\/pressbooks\/v2\/parts"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/tc3-accounting1\/wp-json\/wp\/v2\/types\/part"}],"version-history":[{"count":0,"href":"https:\/\/courses.lumenlearning.com\/tc3-accounting1\/wp-json\/pressbooks\/v2\/parts\/182\/revisions"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/tc3-accounting1\/wp-json\/wp\/v2\/media?parent=182"}],"wp:term":[{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/tc3-accounting1\/wp-json\/wp\/v2\/contributor?post=182"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/tc3-accounting1\/wp-json\/wp\/v2\/license?post=182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}