Reference no: EM133021544

Question - Indicate the adjustment amount required in calculating business income for tax purposes with respect to the following accounting deductions. Show by way of 0 any item that does not require adjustment.

1) $35,100 legal fees regarding the restructure of bank debt

2) $8,400 reserve accrued on specific identification of uncollectible receivables

3) $14,000 music concert tickets given to clients

4) $83,000 management bonus accrued and paid in October of following year

5) $5,400 loss incurred on employee theft