Vance Refrigeration, Inc. Income Statement For Year Ended December 3 1 , 2 0 2 3 NOTES
Question:
Vance Refrigeration, Inc.
Income Statement For Year Ended December NOTES related to the booktax differences: ?MACRS depreciation for ?is $ ?The allowance method of bad debts resulted in an expense of $ ?but the direct writeoff method results in bad debt expense of $ ?Charitable contributions represents amounts paid to the US ?President's reelection campaign.
?The salaries & wages amount includes $ ?of accrued bonuses that have not been paid out by year end.
?The Payroll tax expense line item includes $ ?of a penalty paid to the State of Illinois Department of Revenue for late payroll tax filings.
?The capital gain relates to the sale of Tesla stock, and the capital loss relates to the sale of Facebook stock.
?Any federal income tax expenses are nondeductible for tax return purposes.
Note: Can you please solve the numbers for me in BookTax Adjustment? I do not understand completely on how I am supposed to fill this out?
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille