Chapter $9$ Plant Assets, Natural Resources, Intangible Assets

$\backslash$table$[[$Asset$,$Cost Allocation,Cost Allocation Methods$],[\backslash$table$[[$Property$,$ Plant, Equipment, Land Improvements $($cost$],[$includes all expenditures necessary to acquire the asset and$],[$get it ready for its intended use$)]],$Depreciation,$\backslash$table$[[$Straight$-$Line$],[$Double Declining Balance$],[$Units of Activity$]]],[$Natural Resources,Depletion,Units of Activity$],[$Intangible Assets,Amortization,Straight Line$]]$

Depreciation Terminology

Salvage Value:

Depreciable Cost:

Straight Line Rate $($SLR$)$:

Accumulated Depreciation:

Book Value:

Disposing of an Asset

Update Depreciation and the related Accumulated Depreciation account, if necessary.

Calculate the Gain or Loss.

Record the disposal