When a charge is placed over the value of an asset that is not tangible. Unlike depreciation that placed the charge over the value of an asset and has tangible properties including, machinery, plant vehicle etc.
Examples of Intangible Assets
To calculate amortization straight-line method is used for an intangible asset, and these assets don’t have a salvage value that normally is the case with depreciation. However, it is important to mention that amortization is usually used to calculate the payments of loan that includes both the interest and principal amounts in the payment.
Rhone-Metro Industries manufactures equipment that is sold or leased.
Desrosiers Ltd. had the following long-term receivable account balances
Bidwell Leasing purchased a single-engine plane for $400,
On January 1, 2018, Majestic Mantles leased a lathe from
On January 1, 2018, National Insulation Corporation (NIC)
Mid-South Auto Leasing leases vehicles to consumers. The attraction
Wade Corp. has 150,000 shares of common stock outstanding
The funded status of Hilton Paneling Inc.’s defined benefit pension
Werner Chemical, Inc. leased a protein analyzer on September 30
On the first day of its fiscal year, Chin Company issued