STOCKHOLDERS’ EQUITY Accounting for Equity Transactions 1. Issuance of common stock: Par value portion is recorded in common stock. Price … More
Category: Financial Accounting Review
Liabilities
CURRENT LIABILITIES Accounting for Current Liabilities 1. Current liabilities: Liabilities that are expected to be paid within a year or … More
Noncurrent assets
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 (PP&E)
Property, plant and equipment include the assets that are expected to be used in operations for more than a year. … More
Depreciation Methods
Depreciation is the process of allocating the cost of property, plant and equipment over the life of the asset. Depreciation … More
Disposal of Property, Plant and Equipment
Gain or Loss on Disposal 1. If disposal price is higher than the carrying amount of the asset, gain on … More