Partial year depreciation

Depreciable cost x S/L % Depreciation Accumulated Book Value

(22,000) x 20% expense Depreciation 24,000
1 [22,000 x 0.2] x 3/12 1,100 1,100 22,900
2 22,000 x 0.2 4,400 5,500 18,500
3 22,000 x 0.2 4,400 9,900 14,100
4 22,000 x 0.2 4,400 14,300 9,700
5 22,000 x 0.2 4,400 18,700 5,300
6 [22,000 x 0.2] x 9/12 3,300 22,000 2,000
 U of A Rate x U of A Depreciation Accumulated Book Value
expense Depreciation 24,000
1 2.20 x 400 880 880 23,120
2 2.20 x 1,500 3,300 4,180 19,820
3 2.20 x 2,600 5,720 9,900 14,100
4 2.20 x 1,800 3,960 13,860 10,140
5 2.20 x 2,000 4,400 18,260 5,740
6 2.20 x 1,700 3,740 22,000 2,000
 BV x (S/L% x2) Depreciation Accumulated Book Value
expense Depreciation 24,000
1 [24,000 x 0.40] x 3/12 2,400 2,400 21,600
2 21,600 x 0.40 8,640 11,040 12,960
3 12,960 x 0.40 5,184 16,224 7,776
4 7,776 x 0.40 3110.40 19,334.40 4,665.60
5 4,665.60 x 0.40 1,866.24 21,200.64 2,799.36
6 2,799.36 – 2,000 799.36 22,000 2,000
Revising Depreciation Rates
Repair and Improvement
Disposal of Fixed Assets
Discarding of Fixed Assets

Date Description Post Ref Debit Credit

XX Accumulated Depreciation XX

Loss on Disposal of Asset XX

Asset XX
Selling of Fixed Assets

XX Cash XX

Accumulated Depreciation XX

Assets XX
Selling of Fixed Assets

XX Cash XX

Accumulated Depreciation XX

Loss on Sale of Asset XX

Asset XX
Selling of Fixed Assets

XX Cash XX

Accumulated Depreciation XX

Gain on Sale of Asset XX

Asset XX