how can i achieve the Doubling Declining balance method for Chinese accounting rule
HI THERE:
Here is the scenario I am facing,
My company now planning to use the Doubling Declining balance method to Depreciate the fixed asset, I was trying to use the seeded method on the EBS --"200DB" is not fit for us,
I want to achieve the result is :
Suppose a business has an asset with $1,000 original cost, $100 salvage value, and 5 years of useful life. Under the double-declining-balance method, double that rate, i.e. 40% depreciation rate would be used. The table below illustrates this:
Depreciation rate | Depreciation expense | Accumulated depreciation | Book value at end of year |
---|---|---|---|
original cost $1,000.00 | |||
40% | 400.00 | 400.00 | 600.00 |
40% | 240.00 | 640.00 | 360.00 |
40% | 144.00 | 784.00 | 216.00 |
40% | 86.40 | 870.40 | 129.60 |
129.60 - 100.00 |