How to do improvements for fixed assets
Hi,
I want to apply an improvement of a fixed asset. Let's say I bought a fixed asset in 2012 and it has a useful life of 36 periods. In 2013 I bought another fixed asset (Doesn't function on its own) to repair minor damages of the "2012 fixed asset" thus giving it an extra 1-2 years of useful life. How can I apply this improvement of the added useful life to the old asset? What methods should I use?