12 For each item below, use the option list provided to indicate (1) whether the following items will adjust net income per books to compute taxable income and (2) whether any adjustment will be an increase or decrease in net income per books. Select "N/A" if there is no adjustment. Each choice may be used once, more than once, or not at all. Adjustment? Item 1. $87,000 of straight-line depreciation on a corporation's books. Depreciation reported on their tax return was $74,000. 2. Interest income from Treasury and commercial bonds. 3. A corporation had $56,000 of capital losses and $63,000 of capital gains. 4. Charitable contributions (not for relief efforts) equal to $80,000. Taxable income without regard to the contributions was $299,000. 5. Federal income tax paid. 6. Life insurance proceeds received upon the death of key personnel. The amount received was less than the premiums paid on the insurance policy. 18 Increase/Decrease B B Select an option below O Yes O No RESET CANCEL ACCEPT For each item below, use the option list provided to indicate (1) whether the following items will adjust net income per books to compute taxable income and (2) whether any adjustment will be an increase or decrease in net income per books. Select "N/A" if there is no adjustment. Each choice may be used once, more than once, or not at all. Item 1. $87,000 of straight-line depreciation on a corporation's books. Depreciation reported on their tax return was $74,000. 2. Interest income from Treasury and commercial bonds. 3. A corporation had $56,000 of capital losses and $63,000 of capital gains. 4. Charitable contributions (not for relief efforts) equal to $80,000. Taxable income without regard to the contributions was $299,000. 5. Federal income tax paid. 6. Life insurance proceeds received upon the death of key personnel. The amount received was less than the premiums paid on the insurance policy. Adjustment? 8 Increase/Decrease 8 B Select an option below O Increase O Decrease 000 O N/A RESET CANCEL ACCEPT