SLN - Straight Line Depreciation

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The current year in entered in A.
In C I have entered the month of purchase.
In D I have entered the day of purchase (1st - 31st).
In E I have entered the year of purchase.
In F I have entered the amount of the purchase.
In G I have entered the life of the assets.
In I I have entered the salvage value.

In K I have entered the following =SLN(F,I,G)

What I what to do:

I want K to calculate mid-month SL depreciation.
Let say an assets was purchased on January 16 for $700, with a life of
7 years. A normal year (full year) would calculate $100 worth of
depreciation.

With mid-month depreciation, if an asset is purchased after the 15th of
the month, you start depreciating the first of the next month.

In the example above, the depreciation would be $641.67 (700/12*11).


How do I do this?

 

[Roman]

You can use this formula for the first year mid-month depreciation:

=IF(D1>15;(F1-I1)/12*(12-C1);(F1-I1)/12*(12-C1+1))