Reference no: EM133378683

Question 1: Determine the importance of the company having property, plant, and equipment as part of the long-term assets on its balance sheet. Consider the following questions to guide your response:

1. What are the costs for determining what is included in the acquisition of property, plant, and equipment?
2. What are the methods you can use to calculate depreciation? Which method makes the most sense for this company?
3. Taking into account the disposal of property, plant, and equipment, what is the correct way to record a disposal?

Question 2: Determine the importance of the company having goodwill or intangibles as part of the long-term assets on its balance sheet. Consider the following questions to guide your response:

1. How do companies acquire goodwill?
2. What are examples of intangible assets and how are they amortized?

Question 3: Determine the importance of the company having long-term investments as part of the long-term assets on its balance sheet. Consider the following questions to guide your response:

1. Should they retain long-term investments?
2. How is the right-of-use asset determined on inception of the lease?
3. How do you calculate the amortization the cost of a leased asset?

Question 4: Cite the applicable FASB Codification section for the following items as a list: property plant and equipment, investments, and intangibles.