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 |