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