Accounting Classwork

Non-current assets
Non-current assets are assets that are purchased by the business and are not intended for
resale, but are to be used within the operation of the business to earn revenue, and will
normally be kept and used for longer than one accounting period (generally a year).

Property, Plant and Equipment

 Property, Plant and Equipment are initially valued at their historical cost
 This includes all cost to acquire the asset and to get the asset in location and
condition for use

Capital Expenditure examples

Motor Vehicle $22,000 + 1000 + 500 = $23500

GST Credits Received $2200 + 100 + 50 = $2350
Cash at Bank $24,200 + 1100 = $25850