GROUP ACTIVITY Case 1: The adjusted trial balance at year-end included the following expenses and loss accounts for current year: Accounting and legal fees Advertising Freight Out Interest expense Loss on Sale of long term Investment Officer's salaries P 1,200,000 P 1,500,000 P 800,000 P 700,000 P 300,000 P 2,250,000.00 P 2,200,000 P 1,400,000 P 850,000 Rent for Office space Sales salaries and commissions Insurance Expense One half of the rented premises is occupied by the sales department. 1. What should be the reported as Marketing costs? 2. What about the costs of General and Administrative?

GROUP ACTIVITY Case 1: The adjusted trial balance at year-end included the following expenses and loss accounts for current year: Accounting and legal fees Advertising Freight Out Interest expense Loss on Sale of long term Investment Officer's salaries P 1,200,000 P 1,500,000 P 800,000 P 700,000 P 300,000 P 2,250,000.00 P 2,200,000 P 1,400,000 P 850,000 Rent for Office space Sales salaries and commissions Insurance Expense One half of the rented premises is occupied by the sales department. 1. What should be the reported as Marketing costs? 2. What about the costs of General and Administrative?

Name: GROUP ACTIVITYCase 1:The adjusted trial balance at year-end included
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Description: GROUP ACTIVITYCase 1:The adjusted trial balance at year-end included the following expenses and lossaccounts for current year:Accounting and legal feesAdvertisingFreight OutInterest expenseLoss on Sale of long term InvestmentOfficer's salariesP 1,20

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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