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Tax Deprecation Assignment Required: Compute the 2021 and 2022 and 2023 Tax Deprecation for Regional Foods, Inc. Required: Due date: Monday, March 27, 2023. Required:
Tax Deprecation Assignment Required: Compute the 2021 and 2022 and 2023 Tax Deprecation for Regional Foods, Inc. Required: Due date: Monday, March 27, 2023. Required: Complete the assignment utilizing Excel (with formulas). Regional Foods, Inc. utilizes the calendar year. When computing the tax deprecation, ignore Section 179 (except for 2023, utilize section 179 if applicable for assets placed in service in 2023). Incorporate bonus depreciation where applicable. Incorporate bonus deprecation where applicable. Regional Foods, Inc. Asset acquisitions 2016-2023 Asset Machinery Office Furniture Warehouse building Land Delivery Truck Machinery Placed in service 11/12/16 Cost 610,000 2/3/17 20,000 5/1/17 275,000 5/1/17 75,000 8/17/17 25,000 6/1/18 41,000 Factory building 2/17/19 1,100,000 Delivery truck 12/12/19 16,000 BMW Automobile (100% business) 1/1/21 97,000 Computer & info systems 3/3/21 920,000 Delivery Truck 5/26/21 80,000 Machinery Equipment Equipment 8/15/21 1,200,000 2/3/22 300,000 12/15/22 270,000 Machinery 5/23/23 100,000 Office Furniture Honda Accord (new, 100% business) 6/2/23 54,000 8/12/23 21,000 Corporate Office - Headquarter Building 11/29/23 3,670,000
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