What total amount of expenses should be reported in the income statement for the 2nd quarter of 2022? * 4. Orange Enterprises had the following transactions: On December 28, 2021, paid property taxes for the next calendar year of P 500,000. Loss from typhoon on February 14, 2022 amounting to P600,000. On May 1, 2022, advertising costs were incurred at P300,000. Sold a machinery with carrying amount of P400,000. The company incurred a loss of P50,000 on its sale on July 1, 2022. A. 475,000 B. 350,000 C. 425,000 D. 675,000 E. None of them

What total amount of expenses should be reported in the income statement for the 2nd quarter of 2022? * 4. Orange Enterprises had the following transactions: On December 28, 2021, paid property taxes for the next calendar year of P 500,000. Loss from typhoon on February 14, 2022 amounting to P600,000. On May 1, 2022, advertising costs were incurred at P300,000. Sold a machinery with carrying amount of P400,000. The company incurred a loss of P50,000 on its sale on July 1, 2022. A. 475,000 B. 350,000 C. 425,000 D. 675,000 E. None of them

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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4. What total amount of expenses should be reported in the income statement for the 2nd quarter of 2022? * 4. Orange Enterprises had the following transactions: • On December 28, 2021, paid property taxes for the next calendar year of P 500,000. • Loss from typhoon on February 14, 2022 amounting to P600,000. • On May 1, 2022, advertising costs were incurred at P300,000. Sold a machinery with carrying amount of P400,000. The company incurred a loss of P50,000 on its sale on July 1, 2022. A. 475,000 B. 350,000 C. 425,000 D. 675,000 E. None of them
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