If the fair value of the ppe is less than its carrying amount, the asset of the fair value of the ppe is less than its carrying amount, what becomes of the asset?

Question

If the fair value of the ppe is less than its carrying amount, the ass What is the meaning of the cost of land in ppe? What is the meaning of the cost of buildings in ppe?

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1 .     Chapter 10 (5 multiple choice and 2 problems)            PPE (plant assets/ fixed assets)                  o Acquired for use in operations and not for resale                 o Long term and usually depreciate (except land)                 o Possess physical substance     1.1. The Acquisition of assets – E 11; P 1         A. Most companies use historical costs as the basis for valuing PPE                   a. When you acquire PPE you record the asset at cost                          i. ADD any related costs incurred after the asset’s acquisition such as                              additions, improvements, replacements if they provide future service                               potential          B. GAAP doesn’t allow for revalua

If the fair value of the ppe is less than its carrying amount, the asset of the fair value of the ppe is less than its carrying amount, what becomes of the asset?

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Intermediate Accounting I ACT 331 - - ACT 331

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Discussion and review:

If the fair value of the ppe is less than its carrying amount, the asset of the fair value of the ppe is less than its carrying amount, what becomes of the asset?

If the fair value of the ppe is less than its carrying amount, the asset of the fair value of the ppe is less than its carrying amount, what becomes of the asset?

Other study guides from Intermediate Accounting I ACT 331 - - ACT 331

Others also asked

Discussion and review:

Other study guides from
Intermediate Accounting I ACT 331 - - ACT 331