The following items were among those that were reported on Nona Co.\'s income st
ID: 2344205 • Letter: T
Question
The following items were among those that were reported on Nona Co.'s income statement for the year ended December 31, 2012:Legal and audit fees $130,000
Rent for office space 100,000
Interest on inventory floor plan 210,000
Loss on abandoned equipment used in operations 35,000
The office space is used equally by Nen's sales and accounting departments. What amount of the above-listed items should be classified as general and administrative expenses in Nen's multiple-step income statement?
(Points : 4)
$475,000
$230,000
$180,000
$440,000
Explanation / Answer
$230,000
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.