Plant Asset Disposals, Natural Resources, and Intangible Assets

Learning objectives

After studying this chapter, you should be able to:

  • Calculate and prepare entries for the sale, retirement, and destruction of plant assets.
  • Describe and record exchanges of nonmonetary assets.
  • Determine the periodic depletion cost of a natural resource and calculate depreciation of plant assets located on extractive industry property.
  • Prepare entries for the acquisition and amortization of intangible assets.
  • Analyze and use the financial results-total assets turnover.

Source: Textbook Equity,
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