Tax Form Assignment #3 Mary Coleman manufactures and distributes high-tech biking gadgets. Required: (1) Prepare a workpaper which shows the following: Assets: Asset Land Computers Machinery Patent Computers Machinery Date Patent Machinery 2/1/20 MACRS HY/7 Building Calculation of the amount Bonus Depreciation, MACRS Depreciation and Amortization for 2023. O Properly report the transactions on an excel spreadsheet showing, current year bonus depreciation, current year depreciation, current year amortization, current year amortization on prior year intangibles and depreciation on prior year assets. Do not recalculate Accumulated Depreciation. Assume it is correct. 1/1/20 S/L Assume for years prior to 2023 no Section 179 or bonus depreciation were taken. For 2023 No Section 179 will be elected, Bonus Depreciation for Machinery 7 year will be elected out of. Convention/vr 1/1/20 None MM/39 7/1/20 MACRS HY/5 1/1/22 MACRS HY/7 2/1/22 S/L 180 Months 2/1/23 MACRS HY/5 7/1/23 MACRS HY/7 6/1/23 S/L 180 Months Cost 100,000 300,000 125,000 60,000 20,000 80,000 30,000 40,000 100,000 Accum Deprec 1/1/23 56,270 22,767 42,720 2,858 4,889

Tax Form Assignment \#3 Mary Coleman manufactures and distributes high-tech biking gadgets. Required: (1) Prepare a workpaper which shows the following: - Calculation of the amount Bonus Depreciation, MACRS Depreciation and Amortization for 2023. - Assume for years prior to 2023 no Section 179 or bonus depreciation were taken. For 2023 No Section 179 will be elected, Bonus Depreciation for Machinery 7 year will be elected out of. - Properly report the transactions on an excel spreadsheet showing, current year bonus depreciation, current year depreciation, current year amortiziffion, current year amortization on prior year intangibles and depreciation on prior year assets. - Do not recalculate Accumulated Depreciation. Assume it is correct