An entity incurred depreciation expenses of P200,000 in its administrative department, and P1,500,000 in its sales department; and salaries of P500,000 in its administrative department, and P600,000 in its sales department. The summary is as follows: Administrative Sales Department Department Depreciation Expense 200,000 1,500,000 Salaries 500,000. 600,000 Present the expenses under the two forms of income statement.

An entity incurred depreciation expenses of P200,000 in its administrative department, and P1,500,000 in its sales department; and salaries of P500,000 in its administrative department, and P600,000 in its sales department. The summary is as follows: Administrative Sales Department Department Depreciation Expense 200,000 1,500,000 Salaries 500,000. 600,000 Present the expenses under the two forms of income statement.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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