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Prepared by Coby Harmon University of California, Santa Barbara Westmont College. 10. Plant Assets, Natural Resources, and Intangible Assets. Learning Objectives After studying this chapter, you should be able to: [1] Describe how the historical cost principle applies to plant assets.

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Prepared by Coby Harmon University of California, Santa Barbara Westmont College

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Prepared by coby harmon university of california santa barbara westmont college

Prepared by

Coby Harmon

University of California, Santa Barbara

Westmont College


Prepared by coby harmon university of california santa barbara westmont college

10

Plant Assets, Natural Resources, and Intangible Assets

Learning Objectives

After studying this chapter, you should be able to:

[1] Describe how the historical cost principle applies to plant assets.

[2] Explain the concept of depreciation and how to compute it.

[3] Distinguish between revenue and capital expenditures, and explain the entries for each.

[4] Explain how to account for the disposal of a plant asset.

[5] Compute periodic depletion of natural resources.

[6] Explain the basic issues related to accounting for intangible assets.

[7] Indicate how plant assets, natural resources, and intangible assets are reported.


Prepared by coby harmon university of california santa barbara westmont college

Preview of Chapter 10

Accounting Principles

Eleventh Edition

Weygandt Kimmel Kieso


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