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Tachibana Corporation has income per books before tax of $286,000.

5. Tachibana Corporation has income per books before tax of $286,000. In computing income per books, Tachibana deducted $20,000 for meals and entertainment expenses, $3,000 for premiums on officers' life insurance policies (the corporation is the beneficiary for these policies), and $100 for fines. What is Tachibana Corporation's taxable income?
1. $286,100
2. $289,000
3. $289,100
4. $299,100
5. $303,100

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Accounting-7614011.doc

Question:
5. Tachibana Corporation has income per books before tax of $286,000. In computing income per books, Tachibana
deducted $20,000 for meals and entertainment expenses, $3,000 for premiums...

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