Correcting asset financial information

Hello Guys,

Good Day!

Would like to ask for some advice with regards to using Oracle FA.

Here is our situation:

Asset 1

Amount: 60,0000

Useful Life: 3 years

Date Placed in Service: June 30, 2009

Open Period in FA: Dec 2012

Computation for depreciation are as follows:

Year 1 (July 31, 2009 - Dec. 31, 2009): 60,000/3 * 6/12 = 10,000.00

Year 2 (Jan - Dec 2010) = 20,000.00

Year 3 (Jan - Dec 2011) = 20,000.00

Year 4 (Jan - June 2012) = 10,000.00

For the end of year 2012, it was discovered that asset life for this asset should be 5 years and not 3 years.

And computation for depreciation should be:

Year 1 (July - December 2009) = 60,000.00/5 * 6/12 = 6.000.00

Year 2 (Jan - Dec 2010) = 12,000.00

Year 3 (Jan - Dec 2011) = 12,000.00

Year 4 (Jan - Dec 2012) = 12,000.00