Use the following information for questions Oskar Corp.reports operating expenses in two categories: (1)selling and (2)general and administrative.The adjusted trial balance at December 31, 2014, included the following expense accounts: One-half of the rented premises is occupied by the sales department.
-The following items were among those reported on Ernie Ltd.'s income statement for the year ended December 31, 2014: The office space is used equally by Ernie's sales and accounting departments.What amount should be classified as general and administrative expenses in Ernie's multiple-step income statement for 2014?
A)$117,500
B)$217,500
C)$335,000
D)$465,500

Question

Use the following information for questions Oskar Corp.reports operating expenses in two categories: (1)selling and (2)general and administrative.The adjusted trial balance at December 31, 2014, included the following expense accounts:  One-half of the rented premises is occupied by the sales department.
-The following items were among those reported on Ernie Ltd.'s income statement for the year ended December 31, 2014:  The office space is used equally by Ernie's sales and accounting departments.What amount should be classified as general and administrative expenses in Ernie's multiple-step income statement for 2014?
A)$117,500 
B)$217,500 
C)$335,000 
D)$465,500

Quizplus · Accepted Answer

The Answer of Use the following information for questions Oskar Corp.reports operating expenses in two categories: (1)selling and (2)general and administrative.The adjusted trial balance at December 31, 2014, included the following expense accounts:  One-half of the rented premises is occupied by the sales department.
-The following items were among those reported on Ernie Ltd.'s income statement for the year ended December 31, 2014:  The office space is used equally by Ernie's sales and accounting departments.What amount should be classified as general and administrative expenses in Ernie's multiple-step income statement for 2014?
A)$117,500 
B)$217,500 
C)$335,000 
D)$465,500

Use the Following Information for Questions Oskar Corp