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In a Previous Period Banshee Ltd Wrote-Off Its 'Dynamic Mover

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In a previous period Banshee Ltd wrote-off its 'dynamic mover' equipment,but new information has shown that it is probable that the future economic benefits exceed its cost of $40 000.What is the appropriate accounting entry?

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Definitions:

Wholly Owned Subsidiaries

Companies that are completely controlled by another company, the parent company, owning 100% of the subsidiary's shares.

Multinational Enterprise

A large corporation that owns and controls production or delivers services in more than one country.

Foreign Corrupt Practices Act

A U.S. law that prohibits companies and their supervisors from bribing foreign officials to obtain or retain business.

American Company

A corporation or business entity that is registered, operates, or has its principal place of business in the United States.

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