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list what items of assets are reported in the property, plant, and equipment section on the...

list what items of assets are reported in the property, plant, and equipment section on the asset side of the goodyear tire and rubber company. discuss how you determine the cost of that item to be reported kn the balance sheet.

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Answer #1

items reported in property , plant and equipment section on asset side of Goodyear Tire and Rubber Co.

1 land

2 manufacturing equipment

3 transportation equipment

4 computers/technical equipment

5 fixtures

6 office furniture

Determination of cost of these items at which they will appear in balance sheet

these assets are recorded at their net value and it is calculated by using the given formula :

net PPE = gross PPE + capital expenditure - accumulated depreciation

where PPE means property, plant and equipment

Generally, land is not subjected to depreciation while recording in balance sheet

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