1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
You are speaking to a group of consumers about ways to use food labels to choose healthy foods in the grocery store. during your
Mariana [72]
<span>I would emphasize the ease of use. Consumers in a grocery store are regularly bombarded with visual stimulation, from brightly colored packaging to flashy statements, none of which are indicators of a healthy food. But by simply turning the package around and looking at the food label, one can quickly compare and deduce the health value of food as the labels are uniform and easy to read. Allowing the consumer to select the food that best for them, rather than the simply the most appealing package.</span>
3 0
3 years ago
A company reported total stockholders' equity of $540,000 on its balance sheet dated December 31, 2016. During the year ended De
solniwko [45]

Answer:

$667,000

Explanation:

stockholders' equity December 31, 2016 = $540,000

plus net income = $60,000

minus cash dividends = ($18,000)

plus issuance of common stock = $70,000

plus sale of treasury stock = $15,000

stockholders' equity = $667,000

Stock dividends do not affect the value of stockholders' equity, that is why they are not included in this calculation.

7 0
3 years ago
On a linear demand curve, if the price is low and the quantity demanded is high, demand is _____ in that region and a price incr
kirill [66]

On a linear demand curve, if the price is low and the quantity demanded is high, demand is Inelastic in that region and a price increase will cause an increase  in total revenue

Revenue in accounting refers to the entire amount of money made through the sale of products and services that are essential to the company's core operations. [1] The term "commercial revenue" can also refer to sales or turnover. Some businesses make money from royalties, interest, or other fees. [2] The term "revenue" can mean income in general or the total amount of money earned over a certain time period, as in "Last year, Company X had revenue of $42 million." The general definition of profits or net income is total revenue less total expenses for a specific time period. Revenue is a component of the Equity section of the balance sheet in accounting, and revenue raises equity.

learn more about revenue:

brainly.com/question/8645356

#SPJ4

8 0
1 year ago
Flint Corporation issued 700 shares of no-par common stock for $7,800. Prepare Flint’s journal entry if (a) the stock has no sta
Masja [62]

Answer:Flint corporation journal $

Date

1. Bank account Dr 7800

Common stock Or. 7800

Narration. Issuance of 700 ordinary stock for $7800 .

2. Bank account Dr 7800

Common stock Cr. 1400

Share premium. 6400

Narration. Issuance of 700 ordinary at $7800 at a premium.

Explanation:

Shares can be issued at par, premium or discount. When it's issued at it's nominal value it's said to be issued at par, when it's issued above it's nominal value it's said to be issued at a premium and when it's issued below par it's said to issued at a discount.

4 0
3 years ago
Read 2 more answers
Dermot just learned that his company is closing, and all the employees will be laid off. He is distraught and anxious about how
77julia77 [94]

Answer:

b

Explanation:

because you want the employer to know that you learned from your last job

8 0
4 years ago
Other questions:
  • You invest 1000 in a fund. You check your statement at the end of April and you have lost 13%. When the statement for May comes
    8·1 answer
  • If the government removes a binding price floor from a market, then the price paid by buyers will (A) increase, and the quantity
    8·1 answer
  • When the turbine generators are turning from the steam, what do they produce?
    10·1 answer
  • Based on market values, Gubler's Gym has an equity multiplier of 1.56 times. Shareholders require a return of 11.31 percent on t
    9·1 answer
  • Meat​ Packers, Incorporated​ (MPI) preserves and packages various kinds of meats for transportation to grocery stores. To prepar
    14·1 answer
  • Suppose an economy is initially in a steady state with capital per worker below the Golden Rule level.
    12·1 answer
  • The final part of the strategy-formulation process is choosing: a. functional-level strategies. b. functional-level goals. c. bu
    10·1 answer
  • Frictional unemployment is inevitable because: Please choose the correct answer from the following choices, and then select the
    5·1 answer
  • If Tarek and Samantha do not write wills and one or both were to pass away, how will the distribution of their assets be decided
    13·1 answer
  • Company k incurs a $22,000 deductible expense. compute the current year tax savings from the deduction assuming that:_________
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!