A gain or loss on disposal of a plant asset is determined by comparin O replacement cost of the asset with the asset's original cost. O original cost of the asset with the proceeds received from its:

Q: An estimate of a plant asset's value at the end of its useful life, is knowing as. Select one: a.…

A: An estimate of a plant assets value at the end of its useful life is knowing as Residual value.

Q: When an item of property, plant, and equipment is disposed of, how is gain or loss on disposal…

A: When an item of property, plant and equipment is disposed of, then gain or loss is determined by…

Q: How does straight-line depreciation work? What about descending?

A: Depreciation - Depreciation means wear and tear of the assets owned by the company. Depreciation is…

Q: re for impairment loss assets, what will happen/effect?

A: Impairment Recognition Business assets should be tested for impairment when a situation occurs that…

Q: What are two major types of depreciation?

A: In general terms, depreciation is a decline in the value of long-term tangible assets. In…

Q: 36 Depreciation is the systematic allocation of the cost price of an item of property, plant and…

A: Depreciation expense is the expense charged on fixed assets with the passage of time.

Q: How to value the assets of property, plant and equipment

A: Property, plant and equipment are regarded as tangible fixed assets and they should be valued…

Q: The cost of an asset that is subject to depreciation is called a.depreciable cost. b.trade-in…

A: Depreciable cost is that portion of cost of asset which can be depreciated. Trade in value relates…

Q: Explain the historical cost concept as it applies to long-term operational assets. Why is the book…

A: The cost of a fixed asset include every expenses incurred in bringing the asset into present…

Q: The book value of a plant asset is the difference between the:

A: Answer:   Option a.

Q: State any three difference between straight line depreciation and written down value method?

A: Depreciation is the term which assign the cost of the physical asset to its expected or useful life…

Q: What characteristics of a plant asset make it different from other assets?

A: Assets means anything which will enable a business enterprise to get cash or benefit in…

Q: Intangible assets are initially recorded at a. expected future value. b. fair value. c. cost. d.…

A: Intangible assets are those which does not have physical substance. It includes copyright, goodwill,…

Q: What costs should be included when measuring the total cost to acquire a long-term asset?

A: Long-term assets: The assets which are used to generate revenue for the business operations for a…

Q: The cost of an asset that is subject to depreciation os called?

A: Assets: Assets are those resources that are owned by the business organization which has an economic…

Q: 26. What is the general formula for calculating the gain or loss realized on the sale or other…

A: The gain or loss on the sale of the property can determine with the help of the difference between…

Q: 32 Which of the following information is necessary to apply the straight-line method of depreciation…

A: Depreciation is used to record reduction in value of asset over the period of time. It can be…

Q: 5. 1.) What is the difference between current assets and plant and equipment? Do you think land…

A: AssetsThe resources owned by an individual or business is known as an asset. Enterprises have…

Q: The cost of a depreciable asset is referred to as the

A: The Answer :

Q: How do you know the ratesw on straight line depreciation?

A: Solution:- The following way to find depreciation rates on straight line depreciation method as…

Q: 1. How do we decide whether to capitalize (record as an asset) or expense a particular cost? 2.…

A: ANSWER   Cost: The cost of the long-lived assets refers to all the expenditures made in order to…

Q: What is a portion of plant asset cost allocated as expense for the period? What is the difference…

A: Carrying Amount: The carrying amount is the purchase price less impairment and depreciation and is…

Q: How can I compute the acquasition of plant assets?

A: The acquisition cost incurred on a plant asset is the cost expended to acquire and place the asset…

Q: 9. On initial recognition, property, plant and equipment should be measured at cost A. Historical…

A: On initial recognition, property, plant and equipment should be recorded at cost i.e historical…

Q: right of use asset

A: Correct Answer :- C Sale price

Q: What entry is made when a fixed asset is sold?

A: Normally businesses sell their fixed assets as part of strategic decision-making. Sale of an asset…

Q: In all cases, net property, plant and equipment (PP&E) should be calculated as the gross PP&E less…

A: Solution: Gross PP &E  = Cost of purchase of PPE Accumulated depreciation = Depreciation…

Q: A gain or loss on the sale of a plant asset is determined           by comparing the:       A.…

A: Solution:- A gain or loss on the sale of a plant asset is determined as follows under:-

Q: pletable amount by the estimated life in terms of units of output?

A: Depletable amount refers to the amount left after salvage value from the total cost of an intangible…

Q: Which of the following best describes a depreciation base? The acquisition cost of an asset relative…

A: The deprecitation is a type of non-monetary expense for the company as it does not include any cash…

Q: 1.  What are the three main factors used in determining depreciation of a fixed asset? 2. What is…

A: Depreciation systematically accounts for declines in the worth of a firm's assets over time. In the…

Q: is the

A: Depreciation expense is that part of the asset value that has been used in a certain period. It is…

Q: What is meant by the “depreciable cost” of a plant asset?

A: The assets having the life of more than a year can be classified as non-current or plant assets.…

Q: 1. What amount should be recorded initially as cost of the right of use asset? 2. What is the…

A: Sometimes company gets the asset on lease means the ownership of the asset remains with the actual…