diff --git a/erpnext/assets/doctype/asset/asset.py b/erpnext/assets/doctype/asset/asset.py
index e35ebf6ed06..0c50b4460e4 100644
--- a/erpnext/assets/doctype/asset/asset.py
+++ b/erpnext/assets/doctype/asset/asset.py
@@ -131,6 +131,13 @@ class Asset(AccountsController):
 		self.set_missing_values()
 		self.validate_gross_and_purchase_amount()
 		self.validate_finance_books()
+<<<<<<< HEAD
+=======
+
+	def before_save(self):
+		self.total_asset_cost = self.net_purchase_amount + self.additional_asset_cost
+		self.status = self.get_status()
+>>>>>>> 20c2cb40d1 (fix: set status to Draft for auto-created assets from Purchase Receipt)
 
 		if not self.split_from:
 			self.prepare_depreciation_data()
diff --git a/erpnext/controllers/buying_controller.py b/erpnext/controllers/buying_controller.py
index fb5cc130f0b..643fafb74ab 100644
--- a/erpnext/controllers/buying_controller.py
+++ b/erpnext/controllers/buying_controller.py
@@ -878,6 +878,7 @@ class BuyingController(SubcontractingController):
 				"asset_category": item_data.get("asset_category"),
 				"location": row.asset_location,
 				"company": self.company,
+				"status": "Draft",
 				"supplier": self.supplier,
 				"purchase_date": self.posting_date,
 				"calculate_depreciation": 0,
diff --git a/erpnext/patches.txt b/erpnext/patches.txt
index 0abf1b42ee4..dc083849dca 100644
--- a/erpnext/patches.txt
+++ b/erpnext/patches.txt
@@ -422,3 +422,13 @@ execute:frappe.db.set_single_value("Accounts Settings", "fetch_valuation_rate_fo
 erpnext.patches.v15_0.add_company_payment_gateway_account
 erpnext.patches.v15_0.update_uae_zero_rated_fetch
 erpnext.patches.v15_0.update_fieldname_in_accounting_dimension_filter
+<<<<<<< HEAD
+=======
+erpnext.patches.v16_0.make_workstation_operating_components #1
+erpnext.patches.v16_0.set_reporting_currency
+erpnext.patches.v16_0.set_posting_datetime_for_sabb_and_drop_indexes
+erpnext.patches.v16_0.update_serial_no_reference_name
+erpnext.patches.v16_0.rename_subcontracted_quantity
+erpnext.patches.v16_0.add_new_stock_entry_types
+erpnext.patches.v15_0.set_asset_status_if_not_already_set
+>>>>>>> 20c2cb40d1 (fix: set status to Draft for auto-created assets from Purchase Receipt)
diff --git a/erpnext/patches/v15_0/set_asset_status_if_not_already_set.py b/erpnext/patches/v15_0/set_asset_status_if_not_already_set.py
new file mode 100644
index 00000000000..ac0af708de4
--- /dev/null
+++ b/erpnext/patches/v15_0/set_asset_status_if_not_already_set.py
@@ -0,0 +1,13 @@
+import frappe
+from frappe.query_builder import DocType
+
+
+def execute():
+	Asset = DocType("Asset")
+
+	query = (
+		frappe.qb.update(Asset)
+		.set(Asset.status, "Draft")
+		.where((Asset.docstatus == 0) & ((Asset.status.isnull()) | (Asset.status == "")))
+	)
+	query.run()