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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 83
Income statement for merchandiser
The following expenses were incurred by a merchandising business during the year. In which expense section of the income statement should each be reported: (a) selling, (b) administrative, or (c) other?
1. Advertising expense
2. Depreciation expense on store equipment
3. Insurance expense on office equipment
4. Interest expense on notes payable
5. Rent expense on office building
6. Salaries of office personnel
7. Salary of sales manager
8. Sales supplies used
The following expenses were incurred by a merchandising business during the year. In which expense section of the income statement should each be reported: (a) selling, (b) administrative, or (c) other?
1. Advertising expense
2. Depreciation expense on store equipment
3. Insurance expense on office equipment
4. Interest expense on notes payable
5. Rent expense on office building
6. Salaries of office personnel
7. Salary of sales manager
8. Sales supplies used
Explanation
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(1) Selling
(2) Administrativ...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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