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3 Problem 2- Enter the appropriate adjustments in the yellow boxes. Write any notes you have beside (in Column D & to the right in green) 4 Add back an amount, deduct an amount, or put 0 if no reconciliation adjustment. 5 6 Net income (financial statements) 7 8 Adjustments to reconcile: 9 10 1. Income tax expense 11 2. Warranty 12 3. Financing share issuance costs 13 4. Instalment interest 14 5. Amortization expense 15 5.CCA 16 6. Yacht club dues 17 6. Meals & entertainment @ club 18 7. Christmas party 19 8. Meals for remote workspace employees 20 9. Accounts receivable reserve adjustment- for 2023 21 9. Accounts receivable reserve adjustment- for 2024 22 10. Convention costs 23 11. Site investigation costs 24 12. Donations 25 13. Landscaping costs 26 14. Pension 27 15. Bonuses 28 16. Interest expense amortization-bond 29 17. Interest costs on financed vehicle 30 18. Premiums on life insurance 31 19. Appraisal costs for real estate sale 32 33 Net income for tax purposes 34 35 100,500.00 100,500.00 Notes/work shown:

3 Problem 2- Enter the appropriate adjustments in the yellow boxes. Write any notes you have beside (in Column D & to the right in green) 4 Add back an amount, deduct an amount, or put 0 if no reconciliation adjustment. 5 6 Net income (financial statements) 7 8 Adjustments to reconcile: 9 10 1. Income tax expense 11 2. Warranty 12 3. Financing share issuance costs 13 4. Instalment interest 14 5. Amortization expense 15 5.CCA 16 6. Yacht club dues 17 6. Meals & entertainment @ club 18 7. Christmas party 19 8. Meals for remote workspace employees 20 9. Accounts receivable reserve adjustment- for 2023 21 9. Accounts receivable reserve adjustment- for 2024 22 10. Convention costs 23 11. Site investigation costs 24 12. Donations 25 13. Landscaping costs 26 14. Pension 27 15. Bonuses 28 16. Interest expense amortization-bond 29 17. Interest costs on financed vehicle 30 18. Premiums on life insurance 31 19. Appraisal costs for real estate sale 32 33 Net income for tax purposes 34 35 100,500.00 100,500.00 Notes/work shown:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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3 Problem 2- Enter the appropriate adjustments in the yellow boxes. Write any notes you have beside (in Column D & to the right in green) 4 Add back an amount, deduct an amount, or put 0 if no reconciliation adjustment. 5 6 Net income (financial statements) 7 8 Adjustments to reconcile: 9 10 1. Income tax expense 11 2. Warranty 12 3. Financing share issuance costs 13 4. Instalment interest 14 5. Amortization expense 15 5.CCA 16 6. Yacht club dues 17 6. Meals & entertainment @ club 18 7. Christmas party 19 8. Meals for remote workspace employees 20 9. Accounts receivable reserve adjustment- for 2023 21 9. Accounts receivable reserve adjustment- for 2024 22 10. Convention costs 23 11. Site investigation costs 24 12. Donations 25 13. Landscaping costs 26 14. Pension 27 15. Bonuses 28 16. Interest expense amortization-bond 29 17. Interest costs on financed vehicle 30 18. Premiums on life insurance 31 19. Appraisal costs for real estate sale 32 33 Net income for tax purposes 34 35 100,500.00 100,500.00 Notes/work shown:
Transcribed Image Text:3 Problem 2- Enter the appropriate adjustments in the yellow boxes. Write any notes you have beside (in Column D & to the right in green) 4 Add back an amount, deduct an amount, or put 0 if no reconciliation adjustment. 5 6 Net income (financial statements) 7 8 Adjustments to reconcile: 9 10 1. Income tax expense 11 2. Warranty 12 3. Financing share issuance costs 13 4. Instalment interest 14 5. Amortization expense 15 5.CCA 16 6. Yacht club dues 17 6. Meals & entertainment @ club 18 7. Christmas party 19 8. Meals for remote workspace employees 20 9. Accounts receivable reserve adjustment- for 2023 21 9. Accounts receivable reserve adjustment- for 2024 22 10. Convention costs 23 11. Site investigation costs 24 12. Donations 25 13. Landscaping costs 26 14. Pension 27 15. Bonuses 28 16. Interest expense amortization-bond 29 17. Interest costs on financed vehicle 30 18. Premiums on life insurance 31 19. Appraisal costs for real estate sale 32 33 Net income for tax purposes 34 35 100,500.00 100,500.00 Notes/work shown:
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