Question
In calculating accounting income, a company deducted an inventory reserve of $6,474. The reserve was determined by identifying all items that had not sold in
In calculating accounting income, a company deducted an inventory reserve of $6,474. The reserve was determined by identifying all items that had not sold in the past 6 months and estimating their current sale value.
What adjustment, if any, would be required in reconciling accounting income to income for tax purposes?
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Management Accounting For Business Decisions
Authors: Colin Drury
2nd Edition
1861527705, 978-1861527707
