Can we add the fully depreciated items again in the Fixed asset addition
If possible, what will be the entry
Example - Vehicle
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Can we add the fully depreciated items again in the Fixed asset addition
If possible, what will be the entry
Example - Vehicle
You can do this, by revaluing
the asset to a higher figure.
DEBIT Vehicle Account 10,000
CREDIT Asset Revaluation Reserve Account 10,000
Being the increase of the Estimated Replacement value of the Asset.
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