ACTURIN TUTUP UF DOCUMENT CHAPTER 9 know how to compute the cost of the various types of plant assets: land, building, equipment, and land improvements. > know what book value is and how it is calculated. Know what the term depreciation means. know how to compute depreciation using the straight-line method for both full and partial years. Be able to calculate the accumulated depreciation balance after two years of recording depreciation. Be able to calculate the gain or loss on the sale of a fixed asset. (Remember that depreciation must always be brought up to the date of the sale prior to actually calculating the gain or loss on the sale.) Know which accounts are considered to be intangible assets, including what costs are including in each. know how to deal with the costs of successfully defending a patent. Be able to compute the amortization on an intangible asset. Remember that it may be for only a partial year, just like depreciation. Know how to account for Research and Development costs. ACTURIN TUTUP UF DOCUMENT CHAPTER 9 know how to compute the cost of the various types of plant assets: land, building, equipment, and land improvements. > know what book value is and how it is calculated. Know what the term depreciation means. know how to compute depreciation using the straight-line method for both full and partial years. Be able to calculate the accumulated depreciation balance after two years of recording depreciation. Be able to calculate the gain or loss on the sale of a fixed asset. (Remember that depreciation must always be brought up to the date of the sale prior to actually calculating the gain or loss on the sale.) Know which accounts are considered to be intangible assets, including what costs are including in each. know how to deal with the costs of successfully defending a patent. Be able to compute the amortization on an intangible asset. Remember that it may be for only a partial year, just like depreciation. Know how to account for Research and Development costs