gwapagirl40
Sep 18, 2012, 08:32 PM
Shields Company is preparing its interim report for the second quarter ending June 30. The following payments were made during the first two quarters:
Expenditure Date Amount
Annual advertising January $800,000
Property tax for the fiscal year February 350,000
Annual equipment repairs March 260,000
Extraordinary casualty loss April 185,000
Research and development May 96,000
For each expenditure indicate the amount that would be reported in the quarterly income statements for the periods ending March 31, June 30, September 30, and December 31.
Please help... I got advertising, prop tax and annual repairs right but can't figure out the last two: extraordinary and research . Thanks
Expenditure Date Amount
Annual advertising January $800,000
Property tax for the fiscal year February 350,000
Annual equipment repairs March 260,000
Extraordinary casualty loss April 185,000
Research and development May 96,000
For each expenditure indicate the amount that would be reported in the quarterly income statements for the periods ending March 31, June 30, September 30, and December 31.
Please help... I got advertising, prop tax and annual repairs right but can't figure out the last two: extraordinary and research . Thanks