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Accounting for Merchandising Activities
Debits and Credits (Double Entry Accounting)
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Intangible Assets

Intangible assets lack physical substance and include assets such as patents, leaseholds, copyrights and trademarks. A very popular example of a trademark is Coca Cola. Goodwill is also an intangible asset but it is shown separately on the balance sheet from Capital Assets.

Property, plant and equipment (also known as fixed assets) include assets such as land, buildings, equipment, machinery, leasehold improvements and natural resources. On the other hand, intangible assets lack physical substance and include assets such as patents, leaseholds, copyrights and trademarks. A very popular example of a trademark is Coca Cola. Goodwill is also an intangible asset but it is shown separately on the balance sheet from Capital Assets.

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