Vilo 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 Vilo'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?

Vilo 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 Vilo'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?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter17: Advanced Issues In Revenue Recognition

Section: Chapter Questions

Problem 6P

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