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Room 1 has 50,000 square feet of rentable space. Room 2 account for 30,000 square feet and lobby area is composed of 20,000 square feet. They have a sales amounting to $130,000; $70,000; and $0 respectively and a cost of $60,000; $20,000; and $50,000. How much should be allocated to Lobby, based on Room size? Select one: a. $0 b. $10,000 c. $15,000 d. $25,000

Room 1 has 50,000 square feet of rentable space. Room 2 account for 30,000 square feet and lobby area is composed of 20,000 square feet. They have a sales amounting to $130,000; $70,000; and $0 respectively and a cost of $60,000; $20,000; and $50,000. How much should be allocated to Lobby, based on Room size? Select one: a. $0 b. $10,000 c. $15,000 d. $25,000

FINANCIAL ACCOUNTING
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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Room 1 has 50,000 square feet of rentable space. Room 2 account for 30,000 square feet and lobby area is composed of 20,000 square feet. They have a sales amounting to $130,000; $70,000; and $0 respectively and a cost of $60,000; $20,000;and $50,000. How much should be allocated to Lobby, based on Room size? Select one: a. $0 b. $10,000 c. $15,000 d. $25,000
Transcribed Image Text:Room 1 has 50,000 square feet of rentable space. Room 2 account for 30,000 square feet and lobby area is composed of 20,000 square feet. They have a sales amounting to $130,000; $70,000; and $0 respectively and a cost of $60,000; $20,000;and $50,000. How much should be allocated to Lobby, based on Room size? Select one: a. $0 b. $10,000 c. $15,000 d. $25,000
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