Corporate tax project draft (1).xlsx

Corporate tax project draft (1).xlsx - BOOK DEPRECIATION...

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BOOK DEPRECIATION Dep Exp Dep Exp Dep Exp Dep Exp Asset Date placed Cost Life Method 2014 12/31/14 2015 12/31/15 2016 12/31/16 2017 12/31/17 Computers 08/01/14 38,500 4 SL 4,010 4,010 9,625 13,635 9,625 23,260 3,208 26,469 Store fixtures 08/01/14 12,600 15 SL 350 350 840 1,190 840 2,030 840 2,870 Chevy S-10 van 08/01/14 48,200 6 SL 3,347 3,347 8,033 11,381 8,033 19,414 8,033 27,447 Stoves and ovens 08/01/14 16,100 8 SL 839 839 2,013 2,851 2,013 4,864 1,174 6,038 New computers 05/01/17 45,300 4 SL - - - 7,550 7,550 Worktables 02/01/17 3,000 7 SL - - - 393 393 New stoves and ovens 08/01/17 22,400 8 SL - - - 1,167 1,167 Tesla X 06/01/17 125,000 6 SL - - - 9,722 9,722 New Warehouse 09/01/17 200,000 30 SL 2222 2,222 New Land 09/01/17 30,000 Building 08/01/14 425,000 30 SL 5,903 5,903 14,167 20,069 14,167 34,236 14,167 48,403 Land 08/01/14 50,000 - - - - Warehouse 08/01/14 88,000 30 SL 1,222 1,222 2,933 4,156 2,933 7,089 2,444 9,533 Land 08/01/14 12,000 1,116,100 15,671 15,671 37,611 53,282 37,611 90,893 50,921 141,814 SOLD IN 2017 (154,600) (42,040) Balance @ 12/31/17 961,500 99,774 Sale of assets (per books) Computers Stoves and ov Warehouse Land Total Sales price 8,000 15,000 110,000 18,000 151,000 Net book value 12,031 10,063 78,467 12,000 112,560 Gain/loss (4,031) 4,938 31,533 6,000 38,440 Accumulated depreciation Accumulated depreciation Accumulated depreciation Accumulated depreciation
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TAX DEPRECIATION Dep Exp Dep Exp Dep Exp Dep Exp Asset Date placed in Service Cost 2014 12/31/14 2015 12/31/15 2016 12/31/16 2017 12/31/17 Computers 08/01/14 38,500 5 DDB 7,700 7,700 12,320 20,020 7,392 27,412 2,218 29,630 Store fixtures 08/01/14 12,600 7 DDB 1,801 1,801 3,086 4,886 2,204 7,090 787 7,877 Chevy S-10 van 08/01/14 48,200 5 DDB 9,640 9,640 15,424 25,064 9,254
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