# P3 defect 13, named regression 1 (list_assets_book_value_is_what_the_books_carry).
id = "assets-book-value-is-what-the-books-carry"
title = "Book value is cost less the depreciation posted, never the schedule's"
rule = "An asset's carrying amount is its cost less the accumulated depreciation the books have recorded for it; what the depreciation schedule says is due through a date is a second figure, reported beside it, and their difference is depreciation not yet posted."
status = "AUTHORITY"
sources = [
  "ASC 360-10-35-4 (cost less salvage allocated over the periods the asset serves)",
  "wanderbooks docs/spec/rules.md B-24 (the register reconciles to the general ledger)",
]
tags = ["fixed-assets", "depreciation", "posted-vs-scheduled"]

[setup]
currency = "USD"
fiscal_year_start = "01-01"
basis = "accrual"
rounding = "half-away-from-zero"

[[setup.accounts]]
code = "1500"
name = "Equipment"
type = "asset"

[[setup.accounts]]
code = "1510"
name = "Accumulated Depreciation"
type = "asset"

[[setup.accounts]]
code = "3000"
name = "Capital"
type = "equity"

[[setup.accounts]]
code = "6200"
name = "Depreciation Expense"
type = "expense"

# A laptop contributed 2026-05-15 at 1,440.00, in service that day, 36
# months, no salvage: 40.00 a month.
[[setup.assets]]
id = "laptop"
description = "Laptop"
cost = "1440.00"
salvage = "0.00"
life_months = 36
in_service = "2026-05-15"
method = "straight_line"
cost_account = "1500"
accumulated_account = "1510"
expense_account = "6200"
acquired_by = 1

[[events]]
date = "2026-05-15"
description = "Laptop contributed"
lines = [
  { account = "1500", side = "debit", amount = "1440.00" },
  { account = "3000", side = "credit", amount = "1440.00" },
]

# May's run, dated the month's last day: 40.00 x 17/31 = 21.9355 -> 21.94.
[[events]]
run_depreciation = { asset = "laptop", period = "2026-05" }

[[expect]]
query = "run"
event = 2

[expect.values]
amount = "21.94"
caught_up = "0.00"

# Hand check: through May 20, 6 days of May, 40.00 x 6/31 = 7.7419 ->
# 7.74 is due; the run is dated May 31, so nothing is posted yet, and the
# book value is the cost (before P3 the tool called 1,432.26 book value).
[[expect]]
query = "register_row"
asset = "laptop"
as_of = "2026-05-20"
values = { accumulated_posted = "0.00", accumulated_scheduled = "7.74", unposted = "7.74", book_value = "1440.00" }

[[expect]]
query = "register_row"
asset = "laptop"
as_of = "2026-05-31"
values = { accumulated_posted = "21.94", accumulated_scheduled = "21.94", unposted = "0.00", book_value = "1418.06" }