Fixed assets depriciation

This discussion addresses how to handle fixed asset depreciation for an Activa Scooter bought on finance in January 2018, which was not initially recorded on the balance sheet. Guidance is provided on calculating depreciation for the 2019-20 financial year, including splitting the calculation from the purchase date to March 31, 2018, and for the subsequent full financial year. Journal entries for recording this depreciation, including prior period adjustments, are also outlined.