We have a few assets that should have been disposed of on 1/1/09.  However, we’ve been calculating depreciation all year.  Can you tell me the best way to go back and reverse the 2009 depreciation on these assets and also to dispose of them?  I want to make sure when everything is done that my GL and FAS numbers match for YTD depreciation (exp) and Accum depreciation (accum).

Thank you.

 Dispose the assets as you would normally do.

After you have ran your depreciation at month end, you will notice that your depreciation expense (FAS vs G/L)  and accumulated depreciation (FAS vs G/L) would differ by the same amount. You will end up crediting your depreciation expense and debiting your accumulated depreciation by this amount. This is the amount of depreciation you had taken for not having disposed of the assets on 1/1/09.