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The Following Expenses Were Incurred by a Retail Business During

Question 254

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The following expenses were incurred by a retail business during the year. Classify whether they should be reported on the income statement as a (1) selling expense, (2) administrative expense, or (3) other.

Premises:

Responses:

Commissions expense paid to sales staff

selling expense

Rent expense on office building

other

Interest expense on notes payable

administrative expense

Depreciation expense on office equipment

Advertising expense

Salary expense of sales manager

Salary expense of office staff

Office supplies expense

Premises:

Commissions expense paid to sales staff

Rent expense on office building

Interest expense on notes payable

Depreciation expense on office equipment

Advertising expense

Salary expense of sales manager

Salary expense of office staff

Office supplies expense

Responses:

selling expense

other

administrative expense

Correct Answer:

Premises:

Responses:

Commissions expense paid to sales staff

Rent expense on office building

Interest expense on notes payable

Depreciation expense on office equipment

Advertising expense

Salary expense of sales manager

Salary expense of office staff

Office supplies expense

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