Cost concepton february 3, clairemont repair service extended an offer of $360,000 for land that had been priced for sale at $400,000. on february 28, clairemont repair service accepted the seller’s counteroffer of $380,000. on october 23, the land was assessed at a value of $390,000 for property tax purposes. on january 15 of the next year, clairemont repair service was offered $450,000 for the land by a national retail chain. at what value should the land be recorded in clairemont repair service’s records?

Overspeculation and a decrease in consumer confidence are both leading factors of: ?

Standardization is associated with which of the following management orientations? a) ethnocentric orientation b) polycentric orientation c) regiocentric orientation d) geocentric orientation

Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."