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changes.mady.by.user Mark Daniel Marmeto

Saved on 01-15-2023

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changes.mady.by.user Liz Dorado

Saved on 02-26-2023

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server	JIRA
columns	key,summary,type,created,updated,due,assignee,reporter,priority,status,resolution
serverId	ecdb5e56-0e2c-3e03-a39a-d088ee783b83
key	FA-197

title	Full Month Convention Sample Computation

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

Jira

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serverId	ecdb5e56-0e2c-3e03-a39a-d088ee783b83
key	FA-155

Jira

server	JIRA
serverId	ecdb5e56-0e2c-3e03-a39a-d088ee783b83
key	FA-205

Jira

server	Jira
columnIds	issuekey,summary,issuetype,created,updated,duedate,assignee,reporter,priority,status,resolution
columns	key,summary,type,created,updated,due,assignee,reporter,priority,status,resolution
serverId	ecdb5e56-0e2c-3e03-a39a-d088ee783b83
key	FA-266

Jira

server	Jira
columnIds	issuekey,summary,issuetype,created,updated,duedate,assignee,reporter,priority,status,resolution
columns	key,summary,type,created,updated,due,assignee,reporter,priority,status,resolution
serverId	ecdb5e56-0e2c-3e03-a39a-d088ee783b83
key	FA-265

Expand

title	Full Month Convention Sample Computation

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	530.00
1	27	0106/3130/2021	Depreciation	120 * .5 /12	5.00	1035.00
1	38	0207/2831/2021	Depreciation	120 * .5 /12	5.00	1540.00
1	49	0308/31/2021	Depreciation	120 * .5 /12	5.00	2045.00
1	510	0409/30/2021	Depreciation	120 * .5 /12	5.00	2550.00
1	611	0510/31/2021	Depreciation	120 * .5 /12	5.00	3055.00
1	712	0611/30/2021	Depreciation	120 * .5 /12	5.00	3560.00
2	1	8	0712/31/2021	Depreciation	120 * .5 /12	5.00	4065.00
12	92	0801/31/20212022	Depreciation	120 * .5 /12	5.00	4570.00
12	103	0902/3028/20212022	Depreciation	120 * .5 /12	5.00	5075.00 00
12	114	1003/31/20212022	Depreciation	120 * .5 /12	5.00	5580.00 00
12	125	1104/30/20212022	Depreciation	120 * .5 /12	5.00	6085.00 00
2	16	1205/31/20212022	Depreciation	120 * .5 /12	5.00	6590.00 00
22	7	0106/3130/2022	Depreciation	120 * .5 /12	5.00	7095.00 00
2	38	0207/2831/2022	Depreciation	120 * .5 /12	5.00	75100.00
2	49	0308/31/2022	Depreciation	120 * .5 /12	5.00	80105.00
2	510	0409/30/2022	Depreciation	120 * .5 /12	5.00	85110.00
2	611	0510/31/2022	Depreciation	120 * .5 /125	.000	90115.00
2	712	0611/30/2022	Depreciation	120 * .5 /125	.001	95120.00
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

This is marked as Fully Depreciated when Total Months = Depreciated Months

Expand

title	Mid Month Convention Sample Computation

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

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.

110.0010

01/31/

2022

2021

Depreciation

120 * .5 /

115

02/

28/

2022

2021	Depreciation	120 * .5 / 12	5	12.50
1

120.00

This is marked as Fully Depreciated when Total Months = Depreciated Months

Expand

title	Mid Month Convention Sample Computation

4	03/31/2021	Depreciation	120 * .5 / 12	5	17.50
1	5	04/30/2021	Depreciation	120 * .5 / 12	5	22.50
1	6	05/31/2021	Depreciation	120 * .5 / 12	5	27.50
1	7	06/30/2021

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

Remaining Monthly Formula

Basis * Year Percentage / Number of Months in a year

11/30/2022

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 / 212	2.5	232.50
1	28	0107/31/2021	Depreciation	120 * .5 / 12	5	737.50
1	39	0208/2831/2021	Depreciation	120 * .5 / 12	5	1242.50
1	410	0309/3130/2021	Depreciation	120 * .5 / 12	5	1747.50
1	511	0410/3031/2021	Depreciation	120 * .5 / 12	5	2252.50
1	612	0511/3130/2021	Depreciation	120 * .5 / 12 12	5	2757.50
2	1	7	0612/3031/2021	Depreciation	120 * .5 / 12 12	5	3262.50
12	82	0701/31/20212022	Depreciation	120 * .5 / 12 12	5	3767.50
12	93	0802/3128/20212022	Depreciation	120 * .5 / 12 12	5	4272.50
12	104	0903/3031/20212022	Depreciation	120 * .5 / 12 12	5	4777.50
12	115	1004/3130/20212022	Depreciation	120 * .5 / 12 12	5	5282.50
12	126	1105/3031/20212022	Depreciation	120 * .5 / 12	5	5787.50
2	17	1206/3130/20212022	Depreciation	120 * .5 / 12	5	6292.50
22	8	0107/31/2022	Depreciation	120 * .5 / 12	5	6797.50
2	39	0208/2831/2022	Depreciation	120 * .5 / 12	5	72102.50
2	410	0309/3130/2022	Depreciation	120 * .5 / 12	5	77107.50
2	511	0410/3031/2022	Depreciation	120 * .5 / 12	5	82112.50
2	612	0511/3130/2022	Depreciation	120 * .5 / 12	5	87117.50	2	7
3	1 (excess month for mid month)	12/3106/30/2022	Depreciation	120 * .5 / 12 / 2	2.5	92120.50
2	8	07/31/2022	Depreciation	120 * .5 / 12	5	97.50
2	9	08/31/2022	Depreciation	120 * .5 / 12	5	102.50
2	10	09/30/2022	Depreciation	120 * .5 / 12	5	107.50
2	11	10/31/2022	Depreciation	120 * .5 / 12	5	112.50
2	12
00

This is marked as Fully Depreciated when Total Months < Depreciated Months

117

Expand

title	Actual Days Convention Sample Computation

Given Data:

Depreciation Type : Actual Days

Placed of Service: 16 Nov 2020

Duration : 2 years

Year 1 : 50%

Year 2 : 50%

Asset Cost : 360

Salvage Value : 240

Basis : 360 - 240 = 120

First Month no. of days : 30

Day of Place of service : 16

First Month Formula

Basis * Year Percentage / Number of Months in a year * (Remaining Day/Days in First Month)

Remaining Day = FIrst Month no. of days - Day of Place of Service + 1

Last Month Formula

Basis * Year Percentage / Number of Months in a year * (Remaining Day/Days in First Month)

Remaining Day = 16 - 1

Remaining Day = Day of Place of Service - 1

Remaining Monthly Formula

Basis * Year Percentage / Number of Months in a year

Year #	Month #	Date	Transaction		Depreciated Value	Depreciation To Date
1	1	11/16/2020	Place in service			0.00
1	1	11/30/2020	Depreciation	120 *.5 / 12

* (30 - 16 + 1 )/30

2.50

3 1 (excess month for mid month)

12/31/

2022

2020

Depreciation

120 *.5 / 12

/ 2

120

.00

This is marked as Fully Depreciated when Total Months < Depreciated Months

Expand

title	Actual Days Convention Sample Computation

7.50
1	3	01/31/2021	Depreciation	120 *.5 / 12	5.00	12.50
1	4	02/28/2021	Depreciation	120 *.5 / 12	5.00	17.50
1	5	03/31/2021	Depreciation	120 *.5 / 12	5.00	22.50
1	6	04/30/2021	Depreciation	120 *.5 / 12	5.00	27.50
1	7	05/31/2021	Depreciation	120 *.5 / 12	5.00	32.50
1	8	06/30/2021

Given Data:

Depreciation Type : Actual Days

Placed of Service: 16 Nov 2020

Duration : 2 years

Year 1 : 50%

Year 2 : 50%

Asset Cost : 360

Salvage Value : 240

Basis : 360 - 240 = 120

First Month no. of days : 30

Day of Place of service : 16

First Month Formula

Basis * Year Percentage / Number of Months in a year * (Remaining Day/Days in First Month)

Remaining Day = FIrst Month no. of days - Day of Place of Service + 1

Last Month Formula

Basis * Year Percentage / Number of Months in a year * (Remaining Day/Days in First Month)

Remaining Day = 16 - 1

Remaining Day = Day of Place of Service - 1

Remaining Monthly Formula

Basis * Year Percentage / Number of Months in a year

Year #	Month #	Date	Transaction	Depreciated Value	Depreciation To Date	1	1	11/16/2020	Place in service	0.00	1	1	11/30/2020	Depreciation	120 .5 / 12 (30 - 16 + 1 )/30	2.50	5.00	372.50
1	29	1207/31/20202021	Depreciation	120 *.5 / 12	5.00	742.50
1	310	0108/31/2021	Depreciation	120 *.5 / 12	5.00	1247.50
1	411	0209/2830/2021	Depreciation	120 *.5 / 12	5.00	1752.50
1	512	0310/31/2021	Depreciation	120 *.5 / 12	5.00	2257.50
2	1	6	0411/30/2021	Depreciation	120 *.5 / 12	5.00	2762.50
12	72	0512/31/2021	Depreciation	120 *.5 / 12	5.00	3267.50
12	83	0601/3031/20212022	Depreciation	120 *.5 / 12	5.00	3772.50
12	94	0702/3128/20212022	Depreciation	120 *.5 / 12	5.00	4277.50
12	105	0803/31/20212022	Depreciation	120 *.5 / 12	5.00	4782.50
12	116	0904/30/20212022	Depreciation	120 *.5 / 12	5.00	5287.50
12	127	1005/31/20212022	Depreciation	120 *.5 / 12	5.00	5792.50
2	18	1106/30/20212022	Depreciation	120 *.5 / 12	5.00	6297.50
22	9	1207/31/20212022	Depreciation	120 *.5 / 12	5.00	67102.50
2	310	0108/31/2022	Depreciation	120 *.5 / 12	5.00	72107.50
2	411	0209/2830/2022	Depreciation	120 *.5 / 12	5.00	77112.50
2	512	0310/31/2022	Depreciation	120 *.5 / 12	5.00	82117.50	2	6
3	1 (excess month for actual days)	1104/30/2022	Depreciation	120 *.5 /12	5.00	87.50
2	7	05/31/2022	Depreciation	120 *.5 / 12	5.00	92.50
2	8	06/30/2022	Depreciation	120 *.5 / 12	5.00	97.50
2	9	07/31/2022	Depreciation	120 *.5 / 12	5.00	102.50
2	10	08/31/2022	Depreciation	120 *.5 / 12	5.00	107.50
2	11	09/30/2022	Depreciation	120 *.5 / 12	5.00	112.50
2	12	10/31/2022	Depreciation	120 *.5 / 12	5.00	117.50
3	1 (excess month for actual days)	11/30/2022	Depreciation	120 .5 /12 (16 - 1 )/30	2.50	120.00

This is marked as Fully Depreciated when Total Months < Depreciated Months

* (16 - 1 )/30

2.50

120.00

This is marked as Fully Depreciated when Total Months < Depreciated Months

Monthly Depreciation Formula

Basis * Year Percentage / Number of Months in a year

Expand

title	Imported Assets

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

Imported : Yes

Placed in Service: 12/31/2020

Imported Depreciation thru:12/31/2021

Depreciation to date GAAP: 75

Entry on "Create asset" being clicked

Account	DR	CR
Asset	360
Accumulated Depr		75
Offset Account		285

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	0	0	0
1	2	01/31/2021	Depreciation	0	0	0
1	3	02/28/2021	Depreciation	0	0	0
1	4	03/31/2021	Depreciation	0	0	0
1	5	04/30/2021	Depreciation	0	0	0
1	6	05/31/2021

Expand

title	Imported Assets

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

Imported : Yes

Placed in Service: 12/31/2020

Imported Depreciation thru:12/31/2021

Depreciation to date GAAP: 75

Entry on "Create asset" being clicked

Account

Asset

360

Accumulated Depr

Offset Account

285

08Depreciation0

Year #	Month #	Date	Transaction	Computation	Depreciation To Date	1	1	12/31/2020	Place in service	0.00	1	1	12/31/2020	Depreciation	0	0	0
1	27	0106/3130/2021	Depreciation	0	0	0
1	38	0207/2831/2021	Depreciation	0	0	0
1	49	0308/31/2021	Depreciation	0	0	0
1	510	0409/30/2021	Depreciation	0	0	0
1	611	0510/31/2021	Depreciation	0	0	0
1	712	0611/30/2021	Depreciation	0	0	0
2	1	8	0712/31/2021	Depreciation	0	0	0
2	1	9	12/31/2021	Imported	0	0	75
12	102	0901/3031/20212022	Depreciation	0	0	0
1	11	10/31/2021	Depreciation	0	0	0
1	12	11/30/2021	Depreciation	0	0	0
2	1	12/31/2021	Depreciation	0	0	0
2	1	12/31/2021	Imported	0	0	75
120 * .5 /12	5.00	80.00 (75.00+5.00)
2	3	02/28/2022	Depreciation	120 * .5 /12	5.00	85.00
2	4	03	2	2	01/31/2022	Depreciation	120 * .5 /12	5.0080.	00 (7590.00+5.00)
2	35	0204/2830/2022	Depreciation	120 * .5 /12	5.00	8595.00
2	4	03/31/2022	Depreciation	120 * .5 /12	5.00	90.00
2	5	04/30/2022	Depreciation	120 * .5 /12	5.00	95.00
6	2	6	05/31/2022	Depreciation	120 * .5 /12	5.00	100.00
2	7	06/30/2022	Depreciation	120 * .5 /12	5.00	105.00
2	8	07/31/2022	Depreciation	120 * .5 /12	5.00	110.00
2	9	08/31/2022	Depreciation	120 * .5 /12	5.00	115.00
2	10	09/30/2022	Depreciation	120 * .5 /12	5.00	120.00
2	11	10/31/2022	Depreciation	120 * .5 /12	0	120.0.00 (Reached Max dep due to imported value
2	12	11/30/2022	Depreciation	120 * .5 /12	0	120.00

Year

Apply Mid Year

Yes

Year

Apply Mid Year

Yes

Year

Apply Mid Year

Yes

* .5 /12	5.00	105.00
3	4	04/30/2024	Depreciation	120 * .5 /12	5.00	110.00
3	5	05/31/2024	Depreciation	120 * .5 /12	5.00	115.00
3	6	06/30/2024	Depreciation	120 * .5 /12	5.00	120.00

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