... CHAPTER1 0 Plant Assets, Natural Resources, and Intangible Assets 10- 2 PreviewofCHAPTER10 10- 3 SECTION1 Plant Assets Plant assets are resources ... and equipment; plant and equipment; and fixed assets 10- 4 Plant Assets Plant assets are critical to a company’s success Illustration 10- 1 10- 5 Determining the Cost of Plant Assets Cost Principle ... price of property ( $100 ,000) $100 ,000 Net removal cost of warehouse ($6,000) 6,000 Attorney's fees ($1,000) 1,000 Real estate broker’s commission ($8,000) 8,000 Cost of Land 10- 9 $115,000 SO Describe...