Table:
|  | December 31, |  |
| --- | --- | --- |
|  | 2019 | 2018 |
| Building and improvements | $1,273 | $1,273 |
| Scientific equipment | 597 | 598 |
| Computer hardware and software | 106 | 107 |
| Machinery and equipment | 274 | 275 |
| Land and improvements | 162 | 162 |
| Other personal property | 70 | 70 |
| Office equipment | 27 | 27 |
|  | 2,509 | 2,512 |
| Less: accumulated depreciation | (1,969) | (1,906) |
| Total property, plant and equipment, net | $ 540 | $ 606 |
Paragraphs:
NOTE 5 – PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment is summarized as follows (in thousands):
We do not have leasehold improvements nor do we have capitalized leases. Costs of betterments are capitalized while maintenance costs and repair costs are charged to operations as incurred. When a depreciable asset is retired from service, the cost and accumulated depreciation will be removed from the respective accounts.
Depreciation expense was $66 thousand and $73 thousand for each of the years ended December 31, 2019 and 2018, respectively.
Question:
What are the accounting treatments for disposed assets?
Answer: When a depreciable asset is retired from service, the cost and accumulated depreciation will be removed from the respective accounts.