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On January 15, 2021, Vaughn Manufacturing paid property taxes on its factory building for the calendar year 2021 in the amount of $1112000. In the
On January 15, 2021, Vaughn Manufacturing paid property taxes on its factory building for the calendar year 2021 in the amount of $1112000. In the first week of April 2021, Vaughn made unanticipated major repairs to its plant equipment at a cost of $2703000. These repairs will benefit operations for the remainder of the calendar year. How should these expenses be reflected in Vaughn's quarterly income statements? Three Months Ended 3/31/21 6/30/21 9/30/21 12/31/21 O $953750 $953750 $953750 $953750 O $1112000 $1802000 $ -O- $278000 $1179000 $1179000 $1179000 O $278000 $278000 $278000
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