Assignment
• What are plant assets, and how do they differ from other assets, such as inventory?
• What is depreciation? What are the three factors used to determine depreciation?
• List the three methods to account for depreciation expenses.
• What is the formula for each depreciation method?
• How would you calculate a partial year of depreciation using the Straight Line Method if you purchased a company car on March 30, 2017?
• How is a change in an estimate of the salvage value and/ or useful life of an asset recorded?
• What is the difference between capital expenditures and revenue expenditures?
• What is the difference between ordinary repairs and extraordinary repairs?
• What are the steps to calculate the depletion expense?
• What is an intangible asset, and how is the cost accounted for? Provide an example.
Format your assignment according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the assignment, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.