The accounting for intangible assets and natural resources is very similar to the processes and practices for property, plant, and equipment.

Problem: 18-7A Problem: 18-8A Problem: 18-9A General Journal Date Description Ref.

The accounting for intangible assets and natural resources is very similar to the processes and practices for property, plant, and equipment. The few exceptions arise from the often legal and contractual nature of intangibles and natural resources. Intangible and natural resource assets are also subject to impairment as are tangible assets, and must be written down from time to time if impairment occurs.Complete the problems from Problem Set A in Chapter 18, pages 626 and 627:* 18.7A, Compute and record depletion of natural resources.* 18.8A, Recording impairment of property, plant, and equipment.* 18.9A, Recording intangible asset acquisition, amortization, and impairment. This is from college accounting price haddock farina chapter1-24 Mcgraw-hill-irwin

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