Using the information from_
Nilson Inc. had accounting income of $156,000 in 2017. Includedin the calculation of that amount is the CEO's life insuranceexpense of $5,000, which is not deductible for tax purposes. Inaddition, the undepreciated capital cost (UCC) for tax purposes is$14,000 lower than the net carrying amount of the property, plant,and equipment, although the amounts were equal at the beginning ofthe year. Prepare Nilson's journal entry to record 2017 taxes,assuming IFRS and a tax rate of 25%.
_calculate the effective rate of income tax for Nilson Inc. for2017. Also make a reconciliation from the statutory rate to theeffective rate, using percentages.
