Homework Problem 6-7 - 9,300 Business Meals &...

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Solution to Problem 6-7 Calculate NIFTP for Morton Forms Ltd.: Accounting Income Before Taxes $ 193,200 Additions: Depreciation 69,300 Reserve for Inventory Obsolescence 15,000 Cost of Advertising on Foreign TV to Canada 9,600 Unused Advertising Circulars ($12,400)(3/4)
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Unformatted text preview: 9,300 Business Meals & Entertainment 11,000 Charitable Contributions 31,900 Appraisal Costs on Land to be sold 4,200 Deductions: Landscaping Costs ( 18,900) CCA ( 94,200 ) Net Income for Tax Purposes $ 230,400...
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