× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
y
2
m
2
m
2
u
2
m
2
B
2
M
2
e
2
k
2
N
2
y
2
m
2
Home Q & A Board Other Fields Homework Help Business Finance
New Topic  
bees13 bees13
wrote...
Posts: 11
Rep: 0 0
6 years ago
For partial-years depreciation, if an asset is purchased on February 8, how many months' depreciation will be taken for the year?
    
Read 242 times
2 Replies

Related Topics

Replies
wrote...
#1
Staff Member
6 years ago
A full month of expense is recorded if an asset is held for fifteen days or more where as no depreciation is recognized in a month where usage is less than fifteen days.

since here for partial years depriciation and the asset is purchased on February 8, which is less than fifteen days.

one year is 12 months, since we are not taking february month in account. Hence 11 months depriciation will be taken for the year.
wrote...
#2
Staff Member
6 years ago
For more information on this subject, check out our Resource Library:

https://biology-forums.com/index.php?action=downloads;sa=view;down=10294
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  428 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 1638
  
 783
  
 1313
Your Opinion
Who's your favorite biologist?
Votes: 608
Previous poll results: Which industry do you think artificial intelligence (AI) will impact the most?