(Answered) - in a case where i must record transactions made by a

Accounting

- In a case where I must record transactions made by a company they ask me to depreciate a van I've purchased this year. So in 2 separate transactions I Cr cash for amount of the van and Dr Van(asset) for the same amount. I then depreciate using the units method finding that $8347 has depreciated so far, so I Dr depreciation expense $8347 and Cr A/D van $8347. The case then states at fiscal year end the van is found to have a "recoverable amount of $38 000, Do i have to depreciate further to match this amount? the van costed 51 000 and minus depreciation this year its value is more then 38 000. Do I account for this difference by Dr depreciation for the difference and crediting AD van again?

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