Multiple Choice
Use the following information for questions Oskar Corp.reports operating expenses in two categories: (1) selling and (2) general and administrative.The adjusted trial balance at December 31, 2014, included the following expense accounts: One-half of the rented premises is occupied by the sales department.
-The following items were among those reported on Ernie Ltd.'s income statement for the year ended December 31, 2014: 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 2014?
A) $117,500
B) $217,500
C) $335,000
D) $465,500
Correct Answer:

Verified
Correct Answer:
Verified
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