Vilma Company has estimated that total depreciation expense for the year ended December 31, 2019 will amount to P300,000 and that 2019 year-end bonuses to employees will total P600,000. In Vilma’s interim income statement for the six months ended June 30, 2019, what total amount of expense relating to these two items should be reported?
Vilma Company has estimated that total depreciation expense for the year ended December 31, 2019 will amount to P300,000 and that 2019 year-end bonuses to employees will total P600,000. In Vilma’s interim income statement for the six months ended June 30, 2019, what total amount of expense relating to these two items should be reported?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Vilma Company has estimated that total
ended December 31, 2019 will amount to P300,000 and that 2019 year-end
bonuses to employees will total P600,000. In Vilma’s interim income
statement for the six months ended June 30, 2019, what total amount of
expense relating to these two items should be reported?
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