USA Free Asset Replacement Under Warranty

Jan 30, 2019
Reaction score
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.


Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

South Africa Replacement cost value 1
Fixed Assets Accounting 1
USA File 1099 under $600 4
USA Asset Taxes 3
UK Question of assets 2
reserves the asset value step-up 2
USA under the table 1
USA When to create a seperate asset for equipment? 1