How Is Depreciation Calculated For Straight Line (STL) Depreciation Method And Daily Prorate Calenda
I need help on calculating straight line depreciation based on a daily prorate convention.
Date placed in service (DPIS) : 14-Nov-2003
Amortize Start Date = 30-Apr-2006
Amortize Flag = Y
Cost : 1,020,000.00
Accumulated Depreciation : 0.00
Salvage Value: 112500.00
Life = 40 Years
Monthly depreciation = (Cost minus Salvage value) divided by remaining life of the asset
Based on the document I am not getting the remaining life as per the doc (37 years + 227/365 days = 37.6219 years)
I am using excel to calculate the remaining life ie I take 13-Nov-2043 and subtract 30-April 2006 to it. I am getting 13711 days ie 37.56 years
I am not getting the same life in years as per the doc.