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

    May 24, 2010, 03:50 AM
    How to account fully depreciated asset again to the asset list
    Can we add the fully depreciated items again in the Fixed asset addition

    If possible, what will be the entry

    Example - Vehicle
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
    Ultra Member
    		  
    #2

    May 24, 2010, 04:18 AM

    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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