Compute Corporation H’s tax expense for financial statement purposes. Compute Corporation H’s tax payable. Compute the net increase in Corporation H’s deferred tax assets or deferred tax liabilities (identify which) for the year.

An electronics store is running a promotion where for every video game purchased, the customer receives a coupon upon checkout to purchase a second game at a 50% discount. the coupons expire in one year. the store normally recognized a gross profit margin of 40% of the selling price on video games. how would the store account for a purchase using the discount coupon?