What total amount of expenses relating to these two items

Assignment Help Financial Accounting
Reference no: EM13133419

Philo company estimates that the amount of total depreciation expense for the year ending december 31 will be $60,000 and for year end bonus to employees will be $120,000. What total amount of expenses relating to these two items should Philo report in its quarterly income statement for the three months ended June 30?

Reference no: EM13133419

Questions Cloud

What is the atomic mass of x : If 2.45 g of X reacts with 6.55 g of M to produce 11.25 g of a compound with the formula M2X3, and the atomic mass of M is 42.0 amu, what is the atomic mass of X
Test the hypothesis using linear methods : Group 2 data [ 141, 139, 172, 131, 150, 125. Assume normal distribution, with equal variance in the two groups and conclusion for a=0.05.
Determine the direct labor budget : The budgeted production is for 52,000 comforters in 2010. Each comforter requires 1.5 hours to cut and sew the material. If cutting and sewing labor costs $11.00 per hour, determine the direct labor budget for 2010.
Ow many milliliters of naoh will be required : ow many milliliters of 0.200 M NaOH will be required to titrate 8 mL of 0.479 M H2SO4
What total amount of expenses relating to these two items : What total amount of expenses relating to these two items should Philo report in its quarterly income statement for the three months ended June 30?
Find limits of confidence interval for true mean weight loss : For these data, a 99% confidence interval for true mean weight loss by all patients attending the clinic would have the limits (?, ?).
Problem related to charitable contribution deduction : Stock in Acme Corporation acquired 7 months ago and held as an investment, donated to Southwest University 4,000 6,200 How much qualifies for the charitable contribution deduction?
What is the recognized gain or loss and how is it classified : On August 10, 2009, an investor purchased 1,000 shares of Planet Corporation for $12,000. On January 2, 2010, the stock became worthless. What is the recognized gain or loss, and how is it classified?
Lengths of square given opposite vertices : Two opposite vertices of a square are P(3, 2) and Q(-5, -10). Find the length of:

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is budgeted contribution margin per unit

Find what is budgeted contribution margin per composite unit for actual mix and find what is the budgeted contribution margin per composite unit for budgeted mix?

  Which areas require further analysis and investigation

Analysis of financial statement using horizontal analysis - Prepare the 2006 common-size income statement and compare it to the 2005 statement. Which areas require further analysis and investigation?

  Illustrate what are his deductions for and from agi

Tim has AGI of $92,000 during the year and the following expenses related to his employment. Tim is reimbursed $13,000 under his employer’s accountable plan. Illustrate what are his deductions for and from AGI?

  Cash basis accounting system

Are adjusting entries used in an accrual basis accounting system or in a cash basis accounting system?

  Find each project''s payback period

Find Reed's cost of not taking the suppliers' discounts and What is each project's payback period

  Evaluate bad debt expense and purpose the adjusting entry

What are the required features of the allowance method of accounting for bad debts Evaluate bad debt expense, and purpose the adjusting entry

  Purpose a report that reconciles the total costs

Purpose a report that reconciles the total costs assigned to the ending work in process inventory and the units transferred out with the costs in beginning inventory and costs added during the period.

  Finding out the oppurtunity cost

Finding out the oppurtunity cost and Which of the following is an example of a variable cost

  What were szekelyi''s ethical obligations

Explain the nature of the relationship between Szekelyi and Reznor. Did a privity relationship exist between these two? Why or why not?

  Would real estate investment trust or mortgage real estate

Would real estate investment trust or mortgage real estate investment trusts be a better hedge against high inflation? Why or why not?

  Compare the total operating income

Compare the total operating income on the 200 tables for requirements 2 and 3. What do you recommend Pacific do based exclusively on your calculations? Explain fleetingly

  Determine how kmart and sears approached change in owner

Determine how Kmart and Sears approached the change in ownership interest under current GAAP and how that approach would differ under proposed GAAP. Provide specific examples to support your response.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd