Homework Answers
27. Option, $245
| Accounting Income | 270 |
| Permanent difference :Fines | 9 |
| Less: Temporary difference (Depreciation =106-72) | 34 |
| Taxable income | 245 |
28. Option, $160
| Accounting Income | 195 |
| Permanent difference :Fines | 5 |
| Less: Temporary difference (Depreciation =106-72) | 40 |
| Taxable income | 160 |
29. Option , Tax payable of $40 [ 160 *25% = 40 million]
30. Option, $145
| Accounting Income | 195 |
| Less: Income tax expense [160*25%] |
40 |
| Less: Deferred tax payable [40*25%] |
10 |
| Net Income | 145 |
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Number 2 0 or depreciating equipment. 1/ 1 A The following information relates to Franklin Freightways...
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