What is a plant Asset

A tree asset is an asset through a advantageous life of much more than one year that is used in developing revenues in a business"s operations. Tree assets are also known as fixed assets.

You are watching: One characteristic of plant assets is that they are

Plant heritage are recorded at their cost and depreciation price is recorded throughout their useful lives.

Plant legacy (other 보다 land) are depreciated over their advantageous lives and also each year"s depreciation is credited to a contra heritage account collected Depreciation.

Plant assets and also the related gathered depreciation space reported on a company"s balance paper in the noncurrent asset section entitled property, plant and also equipment. Accounting rules also require the the plant assets be reviewed for possible impairment losses.

Examples of tree Assets

Plant assets include:

Land (not depreciated)Land improvementsBuildingsMachinery and equipmentOffice equipmentFurniture and fixturesVehiclesLeasehold improvements

Free Financial Statements Cheat Sheet

495,113 Subscribers
You are already subscribed. This sell is not accessible to present subscribers.
Error: You have actually unsubscribed native this list.

See more: Sat Math : How Can X + 3 = −2X + 5 Be Set Up As A System Of Equations?

Step 2: Please inspect your email.
Related Questions

To discover more, watch the associated Topics listed below:

Related Topics
Balance paper Depreciation
Related company Forms
Balance Sheet: solutions - corporation
Depreciation: Straight-line method

Join PRO or PRO Plus and Get Lifetime accessibility to ours Premium Materials

Read every 2,239 Testimonials
PROLifetime Access
PRO PlusLifetime Access
Video maintain
Visual Tutorials
Quick exam
Quick Tests v Coaching
Cheat Sheets
Business creates
every PDF files
Progress Tracking
Certificate - Debits and also Credits
Certificate - Adjusting Entries
Certificate - jae won Statements
Certificate - Balance sheet
Certificate - earnings Statement
Certificate - Cash circulation Statement
Certificate - Working funding
Certificate - financial Ratios
Certificate - financial institution Reconciliation
Certificate - Payroll accounting
Learn More
Learn More

bookkeeping CareersCertificates of Achievement