G iven Given Data: Depreciation Type : Mid-Month Duration : 2 years Year 1 : 50% Year 2 : 50% Asset Cost : 360 Salvage Value : 240 Basis : 360 - 240 = 120 First and Last Monthly Formula Basis * Year Percentage / Number of Months in a year / 2 Imported : Yes Placed in Service: 12/31/2020 Imported Depreciation thru:12/31/2021 Depreciation to date GAAP: 70
Monthly Depreciation Remaining Monthly Formula Basis * Year Percentage / Number of Months in a year
| Year # | Month # | Date | Transaction | Computation |
Depreciated Value |
| Depreciation To Date | | 1 | 1 | 12/31/2020 | Place in service |
|
| 0 |
0 | 0| .00 | | 1 | 1 | 12/31/2020 | Depreciation |
120 * .5 / 12 / 2 | 2.5 | 2.50| 0 | 0 | 0 | | 1 | 2 | 01/31/2021 | Depreciation |
120 * .5 / 12 | 5 | 7.50| 0 | 0 | 0 | | 1 | 3 | 02/28/2021 | Depreciation |
120 * .5 / 12 | 5 | 12.50120 * .5 / 12 | 5 | 17.50| 0 | 0 | 0 | | 1 | 5 | 04/30/2021 | Depreciation |
120 * .5 / 12 | 5 | 22.50| 0 | 0 | 0 | | 1 | 6 | 05/31/2021 | Depreciation |
120 * .5 / 12 | 5 | 27.50| 0 | 0 | 0 | | 1 | 7 | 06/30/2021 | Depreciation |
120 * .5 / 12 | 5 | 32.50| 0 | 0 | 0 | | 1 | 8 | 07/31/2021 | Depreciation |
120 * .5 / 12 | 5 | 37.50| 0 | 0 | 0 | | 1 | 9 | 08/31/2021 | Depreciation |
120 * .5 / 12 | 5 | 42.50 | | 0 | 0 | 0 | | 1 | 10 | 09/30/2021 | Depreciation |
120 * .5 / 12 | 5 | 47.50| 0 | 0 | 0 | | 1 | 11 | 10/31/2021 | Depreciation |
120 * .5 / 12 | 5 | 52.50| 0 | 0 | 0 | | 1 | 12 | 11/30/2021 | Depreciation |
120 * .5 / 12 | 5 | 57.50| 0 | 0 | 0 | | 2 | 1 | 12/31/2021 | Depreciation |
120 * .5 / 12 | 5 | 62.50| 0 | 0 | 0 | | 2 | 2 | 01/31/2022 | Depreciation | 120 * .5 /12 | 5 |
67.50| .00 | 80.00 (70.00+10.00) | | 2 | 3 | 02/28/2022 | Depreciation | 120 * .5 /12 | 5.00 |
7250| 00 | | 2 | 4 | 03/31/2022 | Depreciation | 120 * .5 /12 | 5.00 |
7750| 00 | | 2 | 5 | 04/30/2022 | Depreciation | 120 * .5 /12 | 5.00 |
8250| 00 | | 2 | 6 | 05/31/2022 | Depreciation | 120 * .5 /12 | 5.00 |
8750| 00 | | 2 | 7 | 06/30/2022 | Depreciation | 120 * .5 /12 | 5.00 |
9250| 00 | | 2 | 8 | 07/31/2022 | Depreciation | 120 * .5 /12 | 5.00 |
9750| 00 | | 2 | 9 | 08/31/2022 | Depreciation | 120 * .5 /12 | 5.00 |
10250| 00 | | 2 | 10 | 09/30/2022 | Depreciation | 120 * .5 /12 | 5.00 |
10750| 00 | | 2 | 11 | 10/31/2022 | Depreciation | 120 * .5 /12 |
5112.50| 120.0.00 (Reached Max dep due to imported value | | 2 | 12 | 11/30/2022 | Depreciation | 120 * .5 /12 |
5 | 117.50 | 3 | (excess month for mid month)12/31/2022Depreciation | * 5 / 12 / 22.5 | 120.00
This is marked as Fully Depreciated when Total Months = Depreciated Months This is marked as Fully Depreciated when Total Months < Depreciated Months
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