Hi All,
I have a situation in Fixed Assets:
Just to illustrate, sample asset should be calculated below on FEDERAL book on its first year of acquisition: (Let's keep the numbers very simple)
A) Orig APC - $1000.00
B) Normal Depreciation Rate - 5%
C) Depreciation for the year = A*B = 50
D) Net value after Normal Depreciation = A - C = 1000 - 50 = 950
Govt has announced a special Depreciation on the above asset of 50%, which should be calculated on the Net vlaue after normal Depreciation. Here are the numbers:
D) Net value after Normal Depreciation = 1000 - 50 = 950
E) Special Deprecaition Rate 50% on D
F) Spl Depreciation for the year = DE = 95050% = 475
G) Net Value after Normal&Spl Depreciaton = D - F = 475
Now Govt has announced another Bonus Deprecaition on the above asset, which should be calculated on the Net Value after Normal & Special Depreciaton, here are the numbers:
G) Net Value after Normal&Spl Depreciaton = D - F = 475
H) Bonus Depreciation Rate 20% on G
I) Bonus Depreciation for the year = G * H = 475 * 20% = 95
K) Net Value after Normal, Spl and Bonus Depreciation/
Net Book Value (NBV) at the end of the first year) = G - I = 475 - 95 = 380
Please let me know how could i archive this scenarios .
Thanks & Regards
Praveen