Depreciation Calculator
Calculate the depreciation of an asset using the straight line, declining balance, double declining balance, or sum-of-the-years’ digits method.
Depreciation Schedule:
| Year | Depreciation Amount |
|---|---|
| 2022 | $19,000 |
| 2023 | $19,000 |
| 2024 | $19,000 |
| 2025 | $19,000 |
| 2026 | $19,000 |
On this page:
Straight Line Depreciation Formula
depreciation = asset cost – salvage value / service life
Declining Balance Depreciation Formula
depreciation = value × factor × 1 / service life
Where:
value = depreciable value at the beginning of the year
service life = years of useful life
factor = depreciation factor
Double Declining Balance Depreciation Formula
depreciation = value × 2 × 1 / service life
Where:
value = depreciable value at the beginning of the year
service life = years of useful life
Sum-of-the-Years’ Digits Depreciation Formula
depreciation = (asset cost – salvage value) × factor
Where:
n = service life in years
factor = years of service life remaining divided by the sum of each year’s digits (see example below)
year 1 factor = n / 1 + 2 + … + n
year 2 factor = n – 1 / 1 + 2 + … + n
final year factor = 1 / 1 + 2 + … + n