The following expenses were incurred by a merchandising


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 

Solution Preview :

Prepared by a verified Expert
Accounting Basics: The following expenses were incurred by a merchandising
Reference No:- TGS01507103

Now Priced at $10 (50% Discount)

Recommended (91%)

Rated (4.3/5)