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The Following Items Were Among Those Reported on Ernie Ltd

Question 37

Multiple Choice

The following items were among those reported on Ernie Ltd.'s income statement for the year ended December 31, 2017: The following items were among those reported on Ernie Ltd.'s income statement for the year ended December 31, 2017: The office space is used equally by Ernie's sales and accounting departments.What amount should be classified as general and administrative expenses in Ernie's multiple-step income statement for 2017? A) $117,500 B) $217,500 C) $335,000 D) $465,500 The office space is used equally by Ernie's sales and accounting departments.What amount should be classified as general and administrative expenses in Ernie's multiple-step income statement for 2017?


A) $117,500
B) $217,500
C) $335,000
D) $465,500

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