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Former Member
Nov 02, 2009 at 02:29 PM

Adjust wrong depreciation problem

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Asset A is purchased in 2007.1.1, useful life 10 years, straight line, no residual value, in 2009.1.1, it is transfered to asset B and asset A became zero, after transfered to asset B, should we adjust asset B useful life to be 8 years or should we adjust depreciation start day to be 2009.Jan .2?

Previously, we didn't realize this depreciation problem, thus we didn't adjust asset B, the depreciation is wrong, in Nov, we realize the issue, so how to adjust the wrong depreciation charge from 2009.Jan to 2009 Oct?