On January 15, 2026, Pina Company paid property taxes on its factory building for the calendar year 2026 for $1112000. In the first week of April 2026, Pina made unanticipated major repairs to its plant equipment for $2715000. These repairs will benefit operations for the remainder of the calendar year. How should these expenses be reflected in Pina's quarterly income statements? O O 3/31/26 $1112000 $278000 $956750 $278000 Three Months Ended 6/30/26 $1810000 $1183000 $956750 $2654700 9/30/26 $0 $1183000 $956750 $278000 12/31/26 $0 $1183000 $956750 $278000

On January 15, 2026, Pina Company paid property taxes on its factory building for the calendar year 2026 for $1112000. In the first week of April 2026, Pina made unanticipated major repairs to its plant equipment for $2715000. These repairs will benefit operations for the remainder of the calendar year. How should these expenses be reflected in Pina's quarterly income statements? O O 3/31/26 $1112000 $278000 $956750 $278000 Three Months Ended 6/30/26 $1810000 $1183000 $956750 $2654700 9/30/26 $0 $1183000 $956750 $278000 12/31/26 $0 $1183000 $956750 $278000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter17: Advanced Issues In Revenue Recognition

Section: Chapter Questions

Problem 6P

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