The following items were among those that were reported on Gare Co.'s income statement for the year ended December 31, 2011: The office space is used equally by Gare's sales and accounting departments.What amount of the above-listed items should be classified as general and administrative expenses in Gare's multiple-step income statement?
A)$415,000.
B)$160,000.
C)$297,500.
D)$180,000.

Question

The following items were among those that were reported on Gare Co.'s income statement for the year ended December 31, 2011:  The office space is used equally by Gare's sales and accounting departments.What amount of the above-listed items should be classified as general and administrative expenses in Gare's multiple-step income statement?
A)$415,000. 
B)$160,000. 
C)$297,500. 
D)$180,000.

Quizplus · Accepted Answer

The Answer of The following items were among those that were reported on Gare Co.'s income statement for the year ended December 31, 2011:  The office space is used equally by Gare's sales and accounting departments.What amount of the above-listed items should be classified as general and administrative expenses in Gare's multiple-step income statement?
A)$415,000. 
B)$160,000. 
C)$297,500. 
D)$180,000.

The Following Items Were Among Those That Were Reported on Gare