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

College Accounting (Book Only): A Career Approach
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Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 2PB: The balances of the ledger accounts of Pelango Furniture as of December 31, the end of its fiscal...
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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

 

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