Sunday, February 17, 2013

Oracle Asset Conversion Questions (Web ADI)

1) What is the accounting entry when I add an asset using Web ADI with cost as $ 1000 and accumulated depreciation as $600 and YTD depreciation as $ 200? 

2) What is the depreciation amount in the first month i.e. FEB-13 after conversion when below asset is added: 
Cost:  $1000
Date Placed in Service: 01-FEB-12
Prorate Date: 01-FEB-12
Accumulated Depreciation: $600
YTD Depreciation: $ 100
Depreciation Calendar: Calendar i.e. JAN to DEC
Current Month in FA Books: FEB-13
FEB-13 Depreciation is how much???

If I change the cost of Asset to $1000.01 and change it back to $1000, then what is the FEB-13 depreciation?