Please with solutions! Brock Corporation reports operating expenses in two categories: (1) selling and (2) general and administrative. The adjustedtrial balance at December 31, 2021, included the following expense and loss accounts:Accounting and legal feesAdvertisingFreight out120,000150,00080,00070,00030,000InterestLoss on sale of long term investmentOfficers' salaries225,000220,000Rent for office spaceSales salaries and commissions140,000One-half of the rented premises is occupied by the sales department. Brock's total selling expenses for 2021 areA. 480,000B. 400,000C. 370,000D. 360,000

In this question first we need to categorized between selling and general and administration…

Brock Corporation reports operating expenses in two categories: (1) selling and (2) general and administrative. The adjusted trial balance at December 31, 2021, included the following expense and loss accounts: Accounting and legal fees Advertising Freight out Interest 120,000 150,000 80,000 70,000 30,000 Loss on sale of long term investment Officers' salaries Rent for office space Sales salaries and commissions 225,000 220,000 140,000 One-half of the rented premises is occupied by the sales department. Brock's total selling expenses for 2021 are A. 480,000 B. 400,000 C. 370,000 D. 360,000

Brock Corporation reports operating expenses in two categories: (1) selling and (2) general and administrative. The adjusted trial balance at December 31, 2021, included the following expense and loss accounts: Accounting and legal fees Advertising Freight out Interest 120,000 150,000 80,000 70,000 30,000 Loss on sale of long term investment Officers' salaries Rent for office space Sales salaries and commissions 225,000 220,000 140,000 One-half of the rented premises is occupied by the sales department. Brock's total selling expenses for 2021 are A. 480,000 B. 400,000 C. 370,000 D. 360,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 10MC: Shannon Corporation began operations on January 1, 2019. Financial statements for the years ended...

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