Shields Company is preparing its interim report for the second quarter ending June 30. The...
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Shields Company is preparing its interim report for the second quarter ending June 30. The following payments were made during the first two quarters: Expenditure Date Amount Annual advertising January $ 808,000 Property tax for the fiscal year February 358,000 Annual equipment repairs March 268,000 One-time research and development fee to consultant May 98,000 Required: 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.
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