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what am i doing wrong? i divided amounts by 4. For expenditure indicate the amount that would be reported in the quarterly income statements for
what am i doing wrong? i divided amounts by 4. For expenditure indicate the amount that would be reported in the quarterly income statements for the period ending March 31 June 30 September 30 and December 31
Shields Company is preparing its interim report under IFRS for the second quarter ending June 30 The following payments were made during the first two quarters: Expenditure Date Amount Annual advertising January $820,000 Property tax for the fiscal year February 370, 880 Annual equipment repairs March 280,000 One-time research and development fee to consultant May 101,200 Required: 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 Answer is complete but not entirely correct. Quarters Ending December March 31 September June 30 30 31 205,000 $ 205,000 $ 205,000 $ 205,000 185,000 $ 185,000 185,000 185,000 70,000 X 70,000 70,000 70.000 0 101000 0 Advertising Property tax Equipment repairs Research and development Required: 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 Answer is complete but not entirely correct. Quarters Ending March 31 June 30 September December 30 31 $ 820,000$ 820,000 $ 820,000 S 820.000 X 370,000 370,000 370,000 370,000 280,000 280,000 280,000 % 280,000 0 101.000 0 Advertising Property tax Equipment repairs Research and development >> 0 Step by Step Solution
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