How much should be the total expenses to be included in BLUE's quarterly income statement for the quarter ended September 30, 2022? INDIGO Company has estimated that total depreciation expense on its depreciable assets forthe year ended December 31, 2022 is 10% of the total cost of P21,700,500, and that 2022 year-end bonuses to employees will be 5% of the profit of the year assuming a profit of P4,500,000.

Financial statement means the statement in which all the revenue , income , expenses or losses are…

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How much should be the total expenses to be included in BLUE's quarterly income statement for the quarter ended September 30, 2022?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

How much should be the total expenses to be included in BLUE's quarterly income statement for the quarter ended September 30, 2022?

INDIGO Company has estimated that total depreciation expense on its depreciable assets for
the year ended December 31, 2022 is 10% of the total cost of P21,700,500, and that 2022 year-
end bonuses to employees will be 5% of the profit of the year assuming a profit of P4,500,000.

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