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Posted by: Homeworkhelp
Price Quoted by Student: $3
Posted On: 2011-08-03 03:03:09
 
Question

E 5-26 Shields Company is preparing its interim report for the second quarter ending June 30. The following

 

E 5-26 Interim financial statements; reporting expenses [Based on Appendix 5]

 

Shields Company is preparing its interim report for the second quarter ending June 30. The following payments were made during the first two quarters:

 

Required:

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.


Solutions
please see the attachment
Price $3
Attachment 1: E 5-26 Shields Company.doc
Solution Posted By: Homeworkhelp    Posted on: 03-08-2011