are there some simple formulas that will allow me to calculate depreciation of assets (by month life) so that if the asset was placed in service mid-year it would calculate the partial year rather than the full year minus salvage value and return the yearly accumulated depreciattion.
Example:
truck cost $110,000 with a salvage value of $10,000 bought in 12/1/01 with a life of 120 months (10 years). I've got all the formulas for all the values yearly depreciation (cost - salvage value/life)but I need to find a way to calculate only the current fiscal year accumulated depreciation (7/1/01 to 6/30/02).
Am I making this too difficult?
Thanks - Ken
Example:
truck cost $110,000 with a salvage value of $10,000 bought in 12/1/01 with a life of 120 months (10 years). I've got all the formulas for all the values yearly depreciation (cost - salvage value/life)but I need to find a way to calculate only the current fiscal year accumulated depreciation (7/1/01 to 6/30/02).
Am I making this too difficult?
Thanks - Ken