After completing this chapter you should be able to: Identify the various costs included in the initial cost of property, plant, and equipment, and intangible assets Determine the initial cost of individual property, plant, and equipment and intangible assets acquired as a group for a lump-sum purchase price acquired in exchange for a deferred payment contract acquired in exchange for equity securities or through donation Explain how to account for dispositions and exchanges for other nonmonetary assets Identify the items included in the cost of a self-constructed asset and determine the amount of capitalized interest Explain the difference in the accounting treatment of costs incurred to purchase intangible assets versus the costs incurred to internally develop intangible assets. Acquisition and Disposition", pp.
Kieso About the Author Donald E. He holds a Ph. These articles have examined such financial reporting issues as accounting for price-level adjustments, pensions, convertible securities, stock option contracts, and interim reports.
He has served on numerous committees of the American Accounting Association and as a member of the editorial board of the Accounting Review; he also has served as President and Secretary-Treasurer of the American Accounting Association.
He received a B. A from Indiana University and a Ph.
Professor Warfield's area of expertise is financial reporting, and prior to his academic career, he worked for five years in the banking industry. Securities and Exchange commission in Washington, D.
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WileyPLUS with ORION addresses the challenges of student readiness and retention, and helps instructors and students improve learning outcomes, by integrating course content with learning tools, assessment, and practice activities on one adaptive platform.The direct costs of issuing shares, such as underwriting costs, accounting and legal fees, printing costs, and taxes, should be reported as a reduction of the amounts paid in.
Issue costs are there- fore debited to Share Premium because they are unrelated to corporate operations. accounting policy choice, although modest differences in inventory and cost of goods sold amounts can arise under the average cost assumption and under LIFO, depending on.
Questions Chapter 10 (Continued) (b) Assets acquired by gift or donation—when assets are acquired in this manner a strict cost concept would dictate that the valuation of the asset be zero. However, in this situation, accountants record the asset at its fair market value.
Copyright © John Wiley & Sons, Inc. Weygandt, Accounting Principles, 11/e, Solutions Manual (For Instructor Use Only) Questions Chapter 3 (Continued) * Aug 30, · Solutions and Test Bank for Intermediate Accounting, 15th Edition by Kieso (ISBN Chapter Acquisition and Disposition of Property, Plant, and Equipment.
Chapter Depreciation, Impairments, and Depletion Solution Manauls for Intermediate Accounting, 19th Edition by Stice Solution Manauls for Intermediate Accounting.
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