Mayo CorpHas Estimated That Total Depreciation Expense for the Year Ending

question 38

Multiple Choice

Mayo Corp.has estimated that total depreciation expense for the year ending December 31, 2011 will amount to $300,000, and that 2011 year-end bonuses to employees will total $600,000.In Mayo's interim income statement for the six months ended June 30, 2011, what is the total amount of expense relating to these two items that should be reported?

• A)$0.
• B)$150,000.
• C)$450,000.
• D)$900,000.

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Definitions:

Somatic Nervous System

The part of the peripheral nervous system that handles voluntary control of body movements through control of skeletal muscles.

Endocrine System

A network of glands in the body that produce and release hormones directly into the bloodstream to regulate the body's growth, metabolism, and sexual development and function.

Peripheral Nervous System

The part of the nervous system that consists of the nerves and ganglia outside of the brain and spinal cord, responsible for connecting the central nervous system to limbs and organs.

Central Nervous System

The part of the nervous system that consists of the brain and spinal cord, responsible for processing and sending out information to the rest of the body.