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I have a client who is testing a Retirement of a Fixed Asset.
Placed in Service date: 11/1/2004
Depreciated to date: 5/29/2010
LTD Depreciation = Begin Year Cost (Fully depreciated on 5/29/2010) Fully Depreciated = Y
When she retires it in 2011 it is giving her an entry of
Depr Expense (dr) $8.33
Depr Reserve (cr) $8.33
Why does this entry occur?
She is using the Avg Convention of Full Period.
Thanks for any help!
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