Use this information to answer the following question. If the income statement were prepared in a multistep form,excess of other expenses over other revenues would be
A)$12,750.
B)$6,500.
C)$19,000.
D)$6,250.

Question

Use this information to answer the following question.  If the income statement were prepared in a multistep form,excess of other expenses over other revenues would be
A)$12,750. 
B)$6,500. 
C)$19,000. 
D)$6,250.

Quizplus · Accepted Answer

To calculate excess of other expenses over other revenues, we need to subtract total other revenues from total other expenses. 
Total other expenses = $31,000 
Total other revenues = $24,500 
Excess of other expenses over other revenues= $31,000 - $24,500 = $6,500

Therefore, the correct choice is B) $6,500.

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