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
Monthly Depreciation Formula Basis * Year Percentage / Number of Months in a year
Year # | Month # | Date | Transaction | Computation |
| Depreciation To Date | 1 | 1 | 12/31/2020 | Place in service |
|
| 0.00 | 1 | 1 | 12/31/2020 | Depreciation | 120 * .5 /12 | 5.00 | 5.00 | 1 | 2 | 01/31/2021 | Depreciation | 120 * .5 /12 | 5.00 | 10.00 | 1 | 3 | 02/28/2021 | Depreciation | 120 * .5 /12 | 5.00 | 15.00 | 1 | 4 | 03/31/2021 | Depreciation | 120 * .5 /12 | 5.00 | 20.00 | 1 | 5 | 04/30/2021 | Depreciation | 120 * .5 /12 | 5.00 | 25.00 | 1 | 6 | 05/31/2021 | Depreciation | 120 * .5 /12 | 5.00 | 30.00 | 1 | 7 | 06/30/2021 | Depreciation | 120 * .5 /12 | 5.00 | 35.00 | 1 | 8 | 07/31/2021 | Depreciation | 120 * .5 /12 | 5.00 | 40.00 | 1 | 9 | 08/31/2021 | Depreciation | 120 * .5 /12 | 5.00 | 45.00 | 1 | 10 | 09/30/2021 | Depreciation | 120 * .5 /12 | 5.00 | 50.00 | 1 | 11 | 10/31/2021 | Depreciation | 120 * .5 /12 | 5.00 | 55.00 | 1 | 12 | 11/30/2021 | Depreciation | 120 * .5 /12 | 5.00 | 60.00 | 2 | 1 | 12/31/2021 | Depreciation | 120 * .5 /12 | 5.00 | 65.00 | 2 | 2 | 01/31/2022 | Depreciation | 120 * .5 /12 | 5.00 | 70.00 | 2 | 3 | 02/28/2022 | Depreciation | 120 * .5 /12 | 5.00 | 75.00 | 2 | 4 | 03/31/2022 | Depreciation | 120 * .5 /12 | 5.00 | 80.00 | 2 | 5 | 04/30/2022 | Depreciation | 120 * .5 /12 | 5.00 | 85.00 | 2 | 6 | 05/31/2022 | Depreciation | 120 * .5 /12 | 5.00 | 90.00 | 2 | 7 | 06/30/2022 | Depreciation | 120 * .5 /12 | 5.00 | 95.00 | 2 | 8 | 07/31/2022 | Depreciation | 120 * .5 /12 | 5.00 | 100.00 | 2 | 9 | 08/31/2022 | Depreciation | 120 * .5 /12 | 5.00 | 105.00 | 2 | 10 | 09/30/2022 | Depreciation | 120 * .5 /12 | 5.00 | 110.00 | 2 | 11 | 10/31/2022 | Depreciation | 120 * .5 /12 | 0 | 115.00 | 2 | 12 | 11/30/2022 | Depreciation | 120 * .5 /12 | 1 | 120.00 |
This is marked as Fully Depreciated when Total Months = Depreciated Months |