Assets classified as property, plant, and equipment are reported at

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Property, plant, and equipment are reported on the balance sheet at their original cost less accumulated depreciation since acquisition. This is in accordance with the historical cost principle, which requires that assets be recorded at their original cost at the time of acquisition. The estimated market value or salvage value may be used to calculate the depreciation expense, but they are not used to report the value of the assets on the balance sheet.

Assets Classified as Property, Plant, and Equipment Are Reported at