Problem 123 given the following account information for leong corporation. equipment 59,740 interest expense 2,360 interest payable 560 retained earnings ? dividends 60,380 land 136,500 accounts receivable 103,410 bonds payable 78,970 notes payable (due in 6 months) 28,150 common stock 71,000 accumulated depreciation - equipment. 10,390 prepaid advertising 4,820 service revenue 344,470 buildings 79,310 supplies 1,710 income taxes payable 2,950 utilities expense 1,360 advertising expense 1,670 salaries and wages expense 50,690 salaries and wages payable 850 accumulated depr. - building. 15,960 cash 43,600 depreciation expense 7,750 prepare a balance sheet in report form for the company as of december 31, 2017. all accounts have normal balances. (list assets in order of liquidity. list property, plant and equipment in order of land, buildings and equipment.)

Two products, qi and vh, emerge from a joint process. product qi has been allocated $34,300 of the total joint costs of $55,000. a total of 2,900 units of product qi are produced from the joint process. product qi can be sold at the split-off point for $11 per unit, or it can be processed further for an additional total cost of $10,900 and then sold for $13 per unit. if product qi is processed further and sold, what would be the financial advantage (disadvantage) for the company compared with sale in its unprocessed form directly after the split-off point?

Read the following paragraph, and choose the best revision for one of its sentences.dr. blake is retiring at the end of the month. there will be an unoccupied office upon his departure, and it is big in size. because every other office is occupied, we should convert dr. blake’s office into a lounge. it is absolutely essential that this issue is discussed at the next staff meeting. (a) because every other office is occupied, it’s recommended that we should convert dr. blake’s office into a lounge. (b) because every other office is filled, we should convert dr. blake’s office into a lounge.

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."