Fixed Assets and Depreciation Calculation in month of Retirement
Hi All,
We have an asset that was placed in service on 31-MAR-2012 with a prorate date of 01-MAR-2012. The asset has STL as depreciation method. The asset was retired in March 2014. I expected the calculation to be as such
| 34200 | asset cost | |||
| 950 | depreciation per month (34,200/36) | |||
| 10 | 2012 | months of depreciation | ||
| 12 | 2013 | months of depreciation | ||
| 3 | 2014 | months of depreciation | ||
| 25 | total months of depreciation | |||
| 23750 | total depreciation | |||
| 10450 | loss | |||
however it was as such. Is depreciation calculated in the month retired? Thanks!
| 34200 | asset cost | |||
| 950 | depreciation per month (34,200/36) | |||
| 10 | 2012 | months of depreciation | ||
| 12 | 2013 | months of depreciation | ||
| 2 | 2014 | months of depreciation | ||
| 24 | total months of depreciation | |||
| 22800 | total depreciation | |||
| 11400 | loss | |||