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Answer the following questions to see what you've learned.

1.

You are entering a purchase invoice for an asset for which you previously created a budgeted fixed asset card. What can you do to exclude the budgeted asset from budgeted depreciation reports?

Block the budgeted fixed asset.

In the Budgeted FA No. field on the purchase line, you can enter the budgeted fixed asset number. The program will create an additional entry on the budgeted asset number where the amount will have the opposite sign.

On the budgeted fixed asset card, in the Acquired FA No. field, you can enter the fixed asset number for the asset that you acquired. Then, the program will exclude the budgeted asset from budgeted depreciation reports.

Post a disposal for the budgeted asset.

2.

What do you need to do to post an acquisition cost for a budgeted asset?

Disable G/L integration for the budgeted asset's depreciation book and post the acquisition cost from the fixed asset journal.

Disable G/L integration for the budgeted asset's depreciation book and post the acquisition cost from the fixed asset G/L journal.

Post the acquisition cost from the fixed asset journal.

Post the acquisition cost from the fixed asset G/L journal.

You must answer all questions before checking your work.

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