Quest, Inc. is a calendar-year, accrual-basis C corporation engaged in manufacturing. Listed in Colum A...
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Accounting
Quest, Inc. is a calendar-year, accrual-basis C corporation engaged in manufacturing. Listed in Colum A are year 2 transactions from Quest's financial statements and tax records. In column B, enter the amount to be reflected on Schedule M-1, Reconciliation of Income (Loss) per books with income per return as an adjustment to calculate federal taxable income. Each transaction should be considered independently of the others. Enter increases to net income per books as positive, whole values and decreases to net income per books as negative, whole values. If a response is zero, enter a zero (0). Year 2 net income per books: $632,000
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