Fixed Assets - EBS (MOSC)

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FA : Accelerated Depreciation

edited Aug 4, 2020 8:50AM in Fixed Assets - EBS (MOSC) 6 commentsAnswered ✓

Good People,

Any help is much appreciated :

1. Asset Date Placed in Service is                          : 01-Feb-2007

2. Prorate Convention is                                         : MID Month

4. Asset Life (Initial)                                                : 15 Years

5. Asset New Life                                                    : 13 Year 9 Month after Depreciating it for MAY-2020 i.e. in JUN-2020

6. Remaining life (in JUN-2020)                              : 5 Months

7. Asset Cost(in JUN-2020)                                    :14812.52

8. YTD (in JUN-2020)                                             :1038.94

9. DEPR RES (in JUN-2020)                                  :13629.57

10. NBV (in JUN-2020)                                           : 1182.95

11. Last Depreciation Run                                      : MAY-2020

a) Now Asset is Expected to have below Deprecation and Additional / Bonus Depreciation every month to be fully depreciated in remaining 5 months instead of 19 months.

b) Both Depreciation and Additional / Bonus Depreciation should go into different account

c) It should break the Additional / Bonus Depreciation amount equally every month like the Depreciation amount.

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