The following expenses were incurred by a merchandising business during the year. In which expense section of the income statement should each be reported: (a) selling, (b) administrative, or (c) other? 1. Advertising expense 2. Depreciation expense on store equipment 3. Insurance expense on office equipment 4. Interest expense on notes payable 5. Rent expense on office building 6. Salaries of office personnel 7. Salary of sales manager 8. Sales supplies used

The following information summarizes the company's operating activities for the year: Utilities for the store $ 9500 Sales commissions 10,500 Sales revenue 164,200​ Purchases of merchandise 89,300 January 1 inventory 27,100​ Rent for store 14,400​ December 31 inventory 23,300​ What is operating income?

An operation's Beginning Inventory for an accounting period equaled $15,000. Ending Inventory for the period equaled $14,000, Purchases equaled $21,500 and Total Cost of Sales was $21,000. What was the amount of this operation's Employee Meals in the period?

Use the following information for the Problems below. Skip to question   [The following information applies to the questions displayed below.]Lansing Company’s current-year income statement and selected balance sheet data at December 31 of the current and prior years follow.  LANSING COMPANYIncome StatementFor Current Year Ended December 31 Sales revenue $ 127,200   Expenses       Cost of goods sold   52,000   Depreciation expense   17,000   Salaries expense   28,000   Rent expense   10,000   Insurance expense   4,800   Interest expense   4,600   Utilities expense   3,800   Net income $ 7,000        LANSING COMPANYSelected Balance Sheet Accounts At December 31 Current Year   Prior Year Accounts receivable   $ 6,600       $ 7,800   Inventory     2,980         2,040   Accounts payable     5,400         6,600   Salaries payable     1,080         800   Utilities payable     420         260   Prepaid insurance     360         480   Prepaid rent…