EAM- How Cost for New Asset Created from Like Kind Exchange Retirement Calculated?

(Doc ID 2265529.1)

Last updated on MAY 12, 2017

Applies to:

PeopleSoft Enterprise FIN Asset Management - Version 9.2 and later
Information in this document applies to any platform.

Goal

How Cost for New Asset Created from Like Kind Exchange Retirement Calculated

Asset has the following information -
CORP = Cost 522609.63 with salvage value 10000
Federal = cost 522609.63 with no salvage and 100% bonus depreciation

Then Retire asset with like kind exchange -- Populate Cash as 18000 and FMV Like Kind as 426495.46

After Depreciation, asset has the following information:
CORP
Retire amount: 522609.63
Proceeds: 444495.46
Gain/Loss: 18000.06
Accum Depr: -96114.23

FEDERAL
Retire amount: 522609.63
Proceeds: 444495.46
Gain/Loss: 444495.46
Accum Depr: -522609.63

Solution

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