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Reply from Affi on Jan 4 at 9:49 AM ABUMN
| | | ---------------Original Message---------------
From: Tijjay2
Sent: Saturday, January 03, 2015 2:44 PM
Subject: Asset Depreciation Value Adjustment
Dear Experts,
I am presently carrying out a month 13 adjustment which require that i should revalue the cost of the asset upward while the depreciation should be revalued downward. Actually this is an asset that is fully depreciated with a scrap value of $10
cost of asset is $1,000,000
Accum depr $999,990
book value $10
The external auditors proposed that the asset be revalued to $1,200,000 while the accumulated depreciation be reduced to $600,000.
The useful life is also to be extended from 10yrs to 15yrs.
I have already adjusted the useful life and the cost of the asset. What is the transaction code that allow you post a debit into accumulated depreciation to reduce the already calculated value is really my area of concern.
Thanks in anticipation your response.
Iliya Yohanna. |
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