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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:

5.13%

Explanation:

Given:

Worth of investment today (PV) = $1,000

Investment worth after 6 years (FV) = $1,350

Time period of investment (nper) = 6 Years

It is required to compute annual return (RATE). This can be computed using spreadsheet function =RATE(nper,-PV,FV).

Substituting the values, we get =RATE(6,-1000,1350)

                                                      = 5.13%

Present value is negative as it is a cash outflow.

Therefore, annual return is computes as 5.13%.

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3 years ago
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3 years ago
A good economic theory is best described as one that:: A. Is true. B. Realistically depicts the real world economists are trying
ollegr [7]

Answer:

b.

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2 years ago
Great Kids Co. began providing day care for the children of employees of a large corporation on January 15 for an agreed monthly
nirvana33 [79]

Answer:

A. A credit to Child Care Fees Earned of $4,500.

Explanation:

The journal entry to record this given transaction is shown below:

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(Being the fees earned is recorded)

Since the payment is received that means cash balance is increased so we debited the cash account and credited the child care fees earned account.

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viktelen [127]

Answer: Option (c) is correct.

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Given that,

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Price elasticity of demand = 2

Therefore,

Price elasticity of demand = \frac{Percentage\ change\ in\ quantity\ demanded}{Percentage\ change\ in\ prices}

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3 years ago
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