Bonus depreciation
We would like to calculate depreciation on Net Book Value by applying two rates on assets for the same month, on the basis of the following formula:
E.G
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Cost = 10,00,000
First Dep rate to be applied = 50%
Result => (5,00,000 / 12) = 41,666.67 per month
Second Dep. rate to be applied on NBV less first dep rate (10,00000 - 5,00000 = 5,00,000)
Second dep rate is 15% which should be applied on 5,00,000 instead of 10,00,000.
Expected Result = (5,00,000 * 15%)/12
6250 / month
Total Dep. amount per month => (41666.67 + 6250) = 47916.67
Please let us know whether system can do this calculation ?