For partial years depreciation if an asset is purchased on F

For partial years depreciation, if an asset is purchased on February 8, how many months depreciation will be taken for the year?

Solution

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.