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2uestion 12(3 points) Determine the effect of the following item on the reconciliation of...

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Accounting

2uestion 12(3 points)
Determine the effect of the following item on the reconciliation of Net Income for Accounting
Purposes to minimum Net Income for Tax Purposes (NIFTP).
Additions in reconciliation should be entered in the box as a positive number (write only
numbers, do not write "+" sign).
Deductions in reconciliation should be entered in the box as a negative number.
If the item would have no effect on the reconciliation, enter the number 0(zero) in the
box.
On December 1 of the year, the Company purchased a franchise for $31,745. The franchise has a limited life of 10 years. Determine the net effect of this CCA deduction on NIFTP.
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