USA Free Asset Replacement Under Warranty


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Jan 30, 2019
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We have an asset on the books which has a few years of depreciation left, and it is now broken and is being replaced for free under warranty from the vendor. It seems so simple but I'm having trouble with the solution. I'm thinking we dispose of the old asset, but how would the new asset make its way onto the books since it's for free? Or would the new unit just take on the NBV of the old asset? Any advice would be appreciated.
 
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