File Home Insert Draw Page Layout Formulas Data Review View Help Share Comments Arial AutoSum ~ AP = IN ON TIX 10 ab Wrap Text General FO X Cut Copy Format Painter 28 O OM Fill Paste B I U Insert Delete Format A v E Merge & Center %, 00 Conditional Format as Cell Formatting Table Styles Clear Sort & Find & Filter Select Analyze Data Clipboard Font Alignment Number Styles Cells Editing Analysis B14 fic For both book and tax purposes, calculate the realized gain or loss for each asset individually E K L M N Q R S A B C D F G H 1 J 1 Acc 3043 2 Chapter 11 Homework 3 Fall 2021 4 5 6 Instructions 7 Due Date: 09.24.21 8 Possible Points 10 9 10 On the tab marked 'Schedule of Gains and Losses' complete the following steps. Use the depreciation 11 schedule provided to calculate the basis and accumulated depreciation for each asset disposed of. Do not 12 edit the information in the depreciation schedule tab. 13 14 1 For both bock and tax purposes, calculate the realized gain or loss for each asset individually 15 2 Calcuate the total 1245 gain/(loss) and the total 1250 gain/(loss) 16 3 Calculate the depreciation recapture (if any) for each asset individually 17 4 Calculate the book to tax difference on the total gain or loss 18 19 20 Submit your completed excel file via Blackboard. You may work in groups. Each group only needs to submit one file for grading. 21 22 List group members, if any, here: 23 24 25 26 27 28 29 30 31 32 Instructions Depreciation Schedule Schedule of Gains and Losses + File Home Insert Draw Page Layout Formulas Data Review View Help Share Comments AutoSum Arial 10 ~AP a Wrap Text In SI II Custom X Cut [Copy Format Painter 5 AY o Fill Paste UV == Insert Delete Format + Merge & Center $ %) 0 - 0 Conditional Format as Cell Formatting Table Styles Styles Clear NIN Analyze Data Sort & Find & Filter Select Clipboard Font Alignment Number Cells Editing Analysis A48 X fx K L M N O Q R S H 250.000 3,000 2,700 250,000 3.000 2,700 3,200 J 500,000 6,000 5,400 3,200 750 750 19,231 2,000 19,231 2,000 901,200 498,381 1,399,581 Bonus Depreciation Beginning A/D 120,840 2021 Depreciation 24,358 Ending A/D 145,198 D E F 16 07.21.2020 2,500,000 10.00 17 07.20.2020 30,000 10.00 18 07.25.2020 27,000 10.00 19 08.26.2021 32,000 10.00 20 08.26.2021 7,500 10.00 21 10.15.2021 750,000 39.00 22 10.15.2021 20,000 10.00 23 24 5,841,500 25 26 27 28 Date in Service Basis Life 29 01.01.2016 950.000 39.00 30 01.01.2016 300,000 N/A 31 02.10.2017 75,000 7.00 32 02.10.2017 35,000 5.00 33 03.15.2018 20.000 3.00 34 04.15.2018 15,000 15.00 35 04.15.2019 80,000 7.00 36 07.20.2020 1,000,000 7.00 37 07.21.2020 2,500,000 39.00 38 07.20.2020 30,000 5.00 39 07.25.2020 27,000 7.00 40 08.26.2021 32,000 5.00 41 08.26.2021 7,500 5.00 42 10.15.2021 750,000 39.00 43 10.15.2021 20,000 5.00 44 45 46 5,841,500 17 Instructions Depreciation Schedule 3,349 2,016 37,500 17,500 20,000 15,000 80,000 63,285 31,976 20,000 15,000 80,000 142,900 29.500 6,000 3,858 66,634 33,992 20,000 15,000 80,000 387,800 93,600 15,600 10,471 244,900 64,100 9,600 6,612 32,000 7,500 4,013 4,013 20,000 229,500 513,359 358,948 872,307 Schedule of Gains and Losses + File Home Insert Draw Page Layout Formulas Data Review View Help Share Comments AutoSum Calibri 11 ~ A ab Wrap Text Custom TTT II A 27 o TA X Cut [Copy Format Painter Fill Paste Av Insert Delete Format Merge & Center $ %). Clear Conditional Format as Cell Formatting Table Styles Styles Sort & Find & Filter Select Analyze Data Clipboard Font Alignment Number Cells Editing Analysis C19 fic 07.01.21 D E F G H J K L M N O . Adjusted Basis Gain/(Loss) on Sale Date of Sale Date Acquired Proceeds 07.01.21 500,000 07.01.21 750,000 07.01.21 10,000 07.01.21 5,500 07.01.21 7,500 Net Gain/(Loss) From Sale of Assets . B 1 Acc 3043 2 Chapter 11 Homework 3 Fall 2021 4 5 Book 6 Asset No. Asset Descriptions 7 1 Building 8 2 Land 9 4 Computer Equipment 10 5 Software 11 7 Furniture & Fixtures 12 13 14 15 16 17 Tax 18 Asset No. Asset Descriptions 19 1 Building 20 2 Land 21 4 Computer Equipment 22 5 Software 23 7 Furniture & Fixtures 24 25 26 27 28 Ordinary Income Recapture Adjusted Basis Gain/(Loss) on Sale Capital Date of Sale Date Acquired 07.01.21 07.01.21 07.01.21 07.01.21 07.01.21 Proceeds 500,000 750,000 10,000 5,500 7,500 Net Gain/(Loss) From Sale of Assets 29 Total 1245 Gain/Loss Total 1250 Gain/Loss Schedule of Gains and Losses + Instructions Depreciation Schedule File Home Insert Draw Page Layout Formulas Data Review View Help Share Comments Arial AutoSum 10 ~AI = = ab Wrap Text Custom A 47 0 II TA X Cut [Copy Format Painter Fill Paste B I U Av ===== Insert Delete Format Merge & Center $ %). Conditional Format as Cell Formatting Table Styles Styles Clear IN Analyze Data Sort & Find & Filter Select Clipboard Font Alignment Number Cells Editing Analysis A48 X fx C D E F . J K L M N O P Q R S 00 OWN = Bonus Depreciation Beginning A/D 475,000 2021 Depreciation 95,000 Ending A/D 570,000 30.000 14,000 6,000 4,500 16,000 100,000 250,000 3,000 2,700 7 Date in Service Basis Life 8 01.01.2016 950,000 10.00 9 01.01.2016 300,000 N/A 10 02.10.2017 75,000 10.00 11 02.10.2017 35,000 10.00 12 03.15.2018 20.000 10.00 13 04.15.2018 15,000 10.00 14 04.15.2019 80,000 10.00 15 07.20.2020 1,000,000 10.00 16 07.21.2020 2,500,000 10.00 17 07.20.2020 30,000 10.00 18 07.25.2020 27,000 10.00 19 08.26.2021 32,000 10.00 20 08.26.2021 7,500 10.00 21 10.15.2021 750,000 39.00 22 10.15.2021 20,000 10.00 23 24 5,841,500 25 26 27 28 Date in Service Basis Life 29 01.01.2016 950,000 39.00 30 01.01.2016 300,000 N/A 31 02.10.2017 75,000 7.00 2200 40.2017 Instructions Depreciation Schedule 7,500 3,500 2,000 1,500 8,000 100,000 250,000 3,000 2,700 3,200 750 19.231 2,000 37,500 17,500 8,000 6,000 24,000 200,000 500,000 6,000 5,400 3,200 750 19,231 2,000 901,200 498,381 1,399,581 Bonus Depreciation Beginning A/D 120,840 2021 Depreciation 24,358 Ending A/D 145,198 37,500 63,285 3,349 66,634 20 nnn cnn 2107 010 22.00 Schedule of Gains and Losses +