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Aug 04 at 05:24 PM

Fixed Asset Depreciation Calculation Problem under Decline Method


Asset No.: LTP00008

Asset Name: Lenevo Laptop 08 Item Acquisition/Capitalization date: 01.04.21 Asset Value: Rs. 1,000/- Depreciation Rate: 80% Salvage Value: 5% Useful life (in months): 24 Depreciation Method: Written Down Value/Diminishing Balance Method Idle Depreciation Calculation: Depreciation should be charged for F.Y. (21-22) Idle Depreciation Amount for a Year: Rs. 800/- Actual Depreciation Calculated: Depreciation charged for F.Y. (21-22) Actual Depreciation Amount Calculated for a Year: Rs. 500/-
Please tell me why the depreciation calculation amount showing worng