50

2 points

Time Remaining 2 hours 3 minutes 41 seconds

02:03:41

1

Item 50

Item 50 2 points

Time Remaining 2 hours 3 minutes 41 seconds

02:03:41

On March 15, 20X7, Barrel Company paid property taxes of $120,000 on its factory building for calendar year 20X7. On July 1, 20X7, Barrel made $20,000 in unanticipated repairs to its machinery. The repairs will benefit operations for the remainder of the calendar year. What total amount of these expenses should be included in Barrel's quarterly income statement for the three months ended September 30, 20X7?

Multiple Choice

$35,000

$40,000

$30,000

$50,000