Journal Entries for Tax Accumulated Depreciation Adjustments
Example: You place an asset in service in Year 1, Quarter 1. The asset cost is $4,000, the life is 4 years, and you are using straight-line depreciation. In Year 4, Quarter 1, your tax authority requests that you change the depreciation taken in Year 2 from $1000 to $800.
Oracle Assets creates the following journal entries for the reserve adjustment:
See Also
Depreciation Calculation
Running Depreciation
