What is a plant Asset
A plant asset is an asset through a beneficial life of much more than one year the is used in creating revenues in a business"s operations. Plant assets are additionally known together fixed assets.
You are watching: Plant assets are ordinarily presented in the balance sheet
Plant assets are videotaped at their cost and also depreciation price is recorded during their helpful lives.
Plant legacy (other 보다 land) space depreciated end their useful lives and each year"s depreciation is credited to a contra legacy account accumulated Depreciation.
Plant assets and the related accumulated depreciation room reported top top a company"s balance paper in the noncurrent asset section entitled property, plant and also equipment. Accountancy rules also require that the tree assets be reviewed for feasible impairment losses.
Examples of tree Assets
Plant heritage include:Land (not depreciated)Land improvementsBuildingsMachinery and equipmentOffice equipmentFurniture and also fixturesVehiclesLeasehold improvements
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Balance paper Depreciation
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