BUSINESS HIGH SCHOOL-ACCOUNTING II Property Plant and Equipment Chapter 6 Disposing Of Plant Assets Discarding Selling Exchanging Loss or Gain on Disposal Methods of Calculating Depreciation Units of Production Sum of the Years Straight Line Declining Balance Accounting II Essential Learning Expectations-Chapter 6: Property, plant, and equipment assets are long-lived assets that are used in the business for a number of years. There are four methods of determining depreciation. When a business discards or sells plant assets, the losses and gains are recorded in the Loss or Gain on Disposal account. When a business exchanges a plant asset for a similar plant asset, losses are recognized in the accounting records, gains are not. Content Vocabulary: Accumulated Depreciation Depreciable Cost Intangible Assets Salvage Value