Answer:
d. $257
Explanation:
Calculation to determine what Franklin's taxable income ($ in millions) is:
Accounting income$280
Add Permanent difference: Fines $10
Less Temporary difference: Depreciation ($33)
($102-$69)
Taxable income $257
Therefore Franklin's taxable income ($ in millions) is:$257
Answer: $6,400
Explanation:
The expected return is simply a weighted average of the different returns given their probability of happening.
If everything was invested in Project X, there is a 70% chance of success and 30% of failure. Payoff is $10,000 if successful and $2,000 if unsuccessful:
= (70% * 10,000) + ( 30% * -2,000)
= 7,000 - 600
= $6,400
Answer:
Calculation of Gain or Loss:
Book Value of Truck = 25,200 - 22,680
= $2,520
Gain on Exchange = 4,158 - 2,520 - 630
= $1,008
Therefore, the journal entry is as follows:
Accumulated Depreciation A/c Dr. $22,680
computer A/c Dr. $3,150
To Truck $25,200
To Cash $630
(To record the Truck)
Answer with Explanation:
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