Solved: Loss on sale of long-term investment60000 one half of the, Accounting Basics

Loss on sale of long-term investment60000 one half of the

Question - Company separates operating expenses in two categories: 1) selling and 2) general & administrative. The adjusted trial balance at December 31, 2014 included the following expenses and loss accounts:

Interest....$140,000

Advertising....300,000

Freight-out....160,000

Product Development...240,000

Loss on sale of long-term investment...60,000

Officers' salaries....450,000

Rent for office space....440,000

Sales salaries and commissions....280,000

One half of the rented premises are occupied by the sales department. What are the total selling expenses for 2014?

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Accounting Basics: Loss on sale of long-term investment60000 one half of the

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Accounting Basics: Loss on sale of long-term investment60000 one half of the

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