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enot [183]
2 years ago
13

Mayo Corp. has estimated that total depreciation expense for the year ending December 31, 2018 will amount to $600,000, and that

2018 year-end bonuses to employees will total $1,200,000. In Mayo's interim income statement for the six months ended June 30, 2018, what is the total amount of expense relating to these two items that should be reported
Business
1 answer:
Vanyuwa [196]2 years ago
3 0
$900,000

Depreciation for the year $600,000
Employee bonuses $1,200,000
Total expenses for the year 1,800,000
Expenses to be reported in interim income statement 1,800,000=$900,000
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Answer:

A. $21,200,000

B. $20,800,000

Explanation:

A. Calculation to determine The instant before it pays out current profits as dividends

Value of the firm =[(Current profits) × (1 +Opportunity cost of funds)} ÷ (Opportunity cost of funds - Constant growth annual rate)

Let plug in the formula

Value of the firm= [($400,000) × (1 + 0.06)]÷ (0.06 - 0.04)

Value of the firm= [($400,000) × (1.06)]÷0.02

Value of the firm= $424,000 ÷ 0.02

Value of the firm= $21,200,000

Therefore The instant before it pays out current profits as dividends will be $21,200,000

B. Calculation to determine The instant after it pays out current profits as dividends

Using this formula

Value of the firm =[(Current profits) × (1 +Constant growth annual rate)} ÷ (Opportunity cost of funds - Constant growth annual rate)

Let plug in the formula

Value of the firm= [($400,000) × (1 + 0.04)] ÷ (0.06 - 0.04)

Value of the firm= [($400,000) × (1.04)] ÷ (0.06 - 0.04)

Value of the firm= $416,000 ÷ 0.02

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