This solution contains a Microsoft Power Point presentation with 55 slides that explains plant assets, depreciation, disposal of plant assets and depletion. Determining the cost of land, land improvements, buildings, and equipment is discussed. Each of these topics contains slides which explain and teach the concept, illustrate journal entries required and demonstrate the calculations necessary. How to calculate a change in the periodic rate is also shown. Plant asset disposal slides illustrate the following situations: retirement, loss on sale, and gain on sale. Depletion slides contain an example problem, calculations and a partial end of period balance sheet.© BrainMass Inc. brainmass.com July 16, 2018, 6:37 pm ad1c9bdddf
This solution is comprised of a Microsoft PowerPoint presentation containing 55 slides which will help students understand several related accounting topics. What are plant assets and what methods are used to determine the annual depreciation? How to calculate and record the annual depreciation expense for each method? How is the disposal of a plant asset calculated and record when it has been retired, sold at a loss or sold with a gain? How is the depletion of natural resources calculated, recorded and shown on a balance sheet?
Hopefully the answer to these questions along with the step-by-step explanation of these complicated topics provides students with a clear understanding of the concepts. Thank you for using BrainMass.com. Have a great day!