The following expenses were recognized by Kalob Company, a retailer, during 2011:

What should Kalob report as general and administrative expenses for 2011?
A) $210,000
B) $284,000
C) $330,000
D) $404,000

Question

The following expenses were recognized by Kalob Company, a retailer, during 2011:

What should Kalob report as general and administrative expenses for 2011?
A) $210,000 
B) $284,000 
C) $330,000 
D) $404,000

Quizplus · Accepted Answer

General and administrative expenses include salaries and wages, rent, utilities, insurance, and other expenses necessary to run a business. From the table, the sum of salaries and wages, rent, and other expenses is $284,000, which should be reported as general and administrative expenses for 2011.

The Following Expenses Were Recognized by Kalob Company, a Retailer