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Kryger [21]
3 years ago
14

Mayo Corp. has estimated that total depreciation expense for the year ending December 31, 2021 will amount to $600,000, and that

2021 year-end bonuses to employees will total $1,200,000. In Mayo's interim income statement for the six months ended June 30, 2021, what is the total amount of expense relating to these two items that should be reported?
Business
1 answer:
Mariulka [41]3 years ago
5 0

Answer:

$900,000

Explanation:

Depreciation for the year      $600,000

Employee Bonuses              $1,200,000

Total expense for the year    $1,800,000

Expense to be reported in interim income statement 1,800,000/2=$900,000

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Cynthia loves her apartment and would like to have the option to buy it once her lease is up. Who is the best person to help Cyn
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A real estate attorney is the best person to help Cynthia prepare a lease option.

<h3>Who is the optionee in an option contract?</h3>
  • The seller is the optionor and the buyer is the optionee in an option contract.
  • It is a unilateral contract since the buyer has the option to purchase while the seller is required to sell.

<h3>What is an option to buy agreement?</h3>
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<h3>What does first option to buy mean?</h3>
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5 0
2 years ago
Paradise Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels (in uni
Degger [83]

Answer:

510,000 units

Explanation:

Note: The data in the questions are merged together and they are first separated before answering the question as follows:

                                  Beginning Inventory        Ending Inventory

Raw material                      52,000                            62,000

Finished goods                  92,000                           62,000

The explanation to the answer is as follows:

Beginning inventory of finished goods + Units of finished goods manufactured = Ending inventory of finished goods  + Units of finished goods sold

Units of finished goods manufactured = Ending inventory of finished goods  + Units of finished goods sold  - Beginning inventory of finished goods

Therefore, we have:

Units of finished goods manufactured = 62,000 + 540,000 - 92,000 = 510,000

7 0
3 years ago
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