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    cari19's Avatar
    cari19 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 19, 2009, 11:22 AM
    Accounting for insurance reimbursements
    We spent $25000 for labor & materials to repair a long-lived asset. We were reimbursed by our insurance company. Will the asset be booked for the total $25K or for the net un-reimbursed amount?
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
    Ultra Member
    		  
    #2

    Nov 21, 2009, 03:55 AM

    For the net un-reimbursed amount!
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