A company purchased an item of property, plant and equipment for $45,000. The asset has an estimated residual value of $6,000, and an estimated useful life of 10 years.

Name: A company purchased an item of property, plant and equipment for $45,000. The asset has an estimated residual value of $6,000, and an estimated useful life of 10 years.
Brand: Quizplus
Rating: 4.8 (47 reviews)

Question

Quizplus · Accepted Answer

This statement provides information on the cost, residual value, and useful life of the property, plant, and equipment asset.

A Company Purchased an Item of Property, Plant and Equipment