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What adjustment will be necessary for entertainment expense

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Problem 1: DONAT Company reported taxable income of $500,000 in 2020. This amount does not include a $5,000 nondeductible (for tax purposes) entertainment expense. If you start with taxable income of $500,000 what adjustment will be necessary for the $5,000 entertainment expense for purposes of calculating E& P?

a. a $5,000 addition.

b. a $5,000 deduction.

c. no adjustment.

d. none of the above.

Reference no: EM132728512

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