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 | 2.500 | 0 | 0 | 1 | 2 | 01/31/2021 | Depreciation |
120 * .5 / 12 | 5 | 7.500 | 0 | 0 | 1 | 3 | 02/28/2021 | Depreciation |
120 * .5 / 12 | 5 | 12.50120 * .5 / 12 | 5 | 17.500 | 0 | 0 | 1 | 5 | 04/30/2021 | Depreciation |
120 * .5 / 12 | 5 | 22.500 | 0 | 0 | 1 | 6 | 05/31/2021 | Depreciation |
120 * .5 / 12 | 5 | 27.500 | 0 | 0 | 1 | 7 | 06/30/2021 | Depreciation |
120 * .5 / 12 | 5 | 32.500 | 0 | 0 | 1 | 8 | 07/31/2021 | Depreciation |
120 * .5 / 12 | 5 | 37.500 | 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 | 47.500 | 0 | 0 | 1 | 11 | 10/31/2021 | Depreciation |
120 * .5 / 12 | 5 | 52.500 | 0 | 0 | 1 | 12 | 11/30/2021 | Depreciation |
120 * .5 / 12 | 5 | 57.500 | 0 | 0 | 2 | 1 | 12/31/2021 | Depreciation |
120 * .5 / 12 | 5 | 62.500 | 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 | 725000 | 2 | 4 | 03/31/2022 | Depreciation | 120 * .5 /12 | 5.00 | 775000 | 2 | 5 | 04/30/2022 | Depreciation | 120 * .5 /12 | 5.00 | 825000 | 2 | 6 | 05/31/2022 | Depreciation | 120 * .5 /12 | 5.00 | 875000 | 2 | 7 | 06/30/2022 | Depreciation | 120 * .5 /12 | 5.00 | 925000 | 2 | 8 | 07/31/2022 | Depreciation | 120 * .5 /12 | 5.00 | 975000 | 2 | 9 | 08/31/2022 | Depreciation | 120 * .5 /12 | 5.00 | 1025000 | 2 | 10 | 09/30/2022 | Depreciation | 120 * .5 /12 | 5.00 | 1075000 | 2 | 11 | 10/31/2022 | Depreciation | 120 * .5 /12 | 5112.50120.0.00 (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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