What are the various Journal Entries generated through fixed
assets
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Answer Posted / latha ummalaneni
Oracle Assets - CURRENT PERIOD ADDITION
Dr. Asset Cost
Dr. Depreciation Expense
Cr. Asset Clearing
Cr. Accumulated Depreciaiton
CIP asset. (CIP assets do not depreciate)
Dr. CIP Cost
Cr. CIP Clearing
Oracle Assets - CAPITALIZED IN PERIOD ADDED
Dr. Asset Cost
Dr. Depreciation Expense
Cr. CIP Clearing
Cr. Accumulated Depreciation
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