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.