I'm trying to understand the concept of depreciation and I'm using an example in order for me to understand it better.
I buy a house for $100,000
Liabilities are utility bills $50 per week
Maintenance work is required, it will last 5 weeks with a total cost of £100. Now if I wanted to depreciate maintenance cost on my paper work, would it mean it would be listed as $100 on week one paper work, $80 on week 2, $60 week 3, $40 week 4, $20 week 5, and then the expense would no longer be listed on my paper work?
Is this how depreciation works?