STOCKHOLDERS’ EQUITY Accounting for Equity Transactions 1. Issuance of common stock: Par value portion is recorded in common stock. Price … More

CURRENT LIABILITIES Accounting for Current Liabilities 1. Current liabilities: Liabilities that are expected to be paid within a year or … More

Noncurrent assets are the assets that are expected to be converted into cash after a year or normal operating cycle, … More

Property, plant and equipment include the assets that are expected to be used in operations for more than a year. … More

Depreciation is the process of allocating the cost of property, plant and equipment over the life of the asset. Depreciation … More

Gain or Loss on Disposal 1. If disposal price is higher than the carrying amount of the asset, gain on … More