5. An entity operates in the travel industry and incursos evenly throughout the year. Advertising cost of P2,000,000 was incurred on March 1, 2019, and staff hones are paid at year-end based on sales Staff bonuses are expected to be around P20,000,000 for the year of that sum, P3,000,000 would relate to the period ending March 31, 2019. What total amount of expenses should be included in the quarterly financial report ending March 31, 2019 a. 7,000,000 b. 5.500,000 c. 5,000,000 d. 3.500.000 6. An entity reported P950,000 net income for the quarter ended September 30, 2019 which included the following after items A P600,000 expropriation gain realized in May 2019 was allocated equally to the second third and fourth quarters of 2019 A P150,000 curative effect lors resulting from a change in inventory valuation method was recognized on August 31, 2019 In addition, the city paid P480,000 on February 1, 2019 for 2019 calendar-year real property tax Of this woul. I20,000 was cated to the third quarter of 2019. What is the set income for the ended September 2019? a 1.150,000 b. 1.100.000 C. 500.000 d. 900,000 7. An entity prepares quarterly baterim financial report. The city sells electrical goods and normally 5% of customers claim o w aty. The provision in the first w e wes calculated of sales to date which amounted to P10,000,000 However, in the second quarter, a design was found w ity claims were expected to be 10% for the whole y Sales for the end P15.000.000 1. What amount of warranty expense should be repented for the first quarter? a 1,000,000 b. 750.000 500.000 d. 250,000 2. What amount of wannaty expense should be reported for the second quarter? # 2,000,000 b. 1.250,000 6. 1,500,000 d 750,000 provision and estimated effective A calendar-yarruption and the following income beliex annual tax rates for the first the quarters Quarter Income before income tax First 5,000,000 Seened 8.000.000 Third 7,000 300 What is the income tax expense for the third quarter? 1,750,000 b. 2,100,000 c. 1,100,000 d. 5,000,000 Effective annual tax rate 30% 30% 25%