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Q. Define Operating expenses?
Operating expenses for a merchandising company are those expenses other than cost of goods sold incurred in the usual business functions of a company. Typically operating expenses are either selling expenses or else administrative expenses. Selling expenses are expenses a company acquire in selling and marketing efforts. Instance include salaries and commissions of salespersons expenses for salespersons' travel delivery advertising rent (or depreciation if owned) as well as utilities on a sales building sales supplies used as well as depreciation on delivery trucks used in sales. Administrative expenses are expenses a company acquires in the overall management of a business. Examples comprise administrative salaries rent or depreciation if owned as well as utilities on an administrative building insurance expense and administrative supplies used and depreciation on office equipment.
Certain operating expenses perhaps shared by the selling and administrative functions. For instance a company might incur rent or taxes and insurance on a building for both sales and administrative purposes. Expenses covering both the selling as well as administrative functions should be analyzed and prorated between the two functions on the income statement. For instance if USD 1000 of depreciation expense relates 60 percent to selling as well as 40 percent to administrative based on the square footage or number of employees the income statement would show USD 600 as a selling expense and USD 400 as an administrative expense.
What is the full disclosure principle
the books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found later
what is going concern concept
The capital structure of Wild West Inc. is as follows: - Debts: $5,000,000 (face value) bonds with coupon rate at 8.00% and present price at par - Preferred shares: $2,000
The CPSdata to re-estimate the difference among average male and female pay. Use for example, the regression LS LNWAGE C FE a. Can you avoid the hypothesis that mean female
Two friends, Joe and Bill, both have carpentry skills and decide to go into business as partners together ?tting kitchen cabinets. Joe's uncle has agreed to provide £20,000 of capi
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Q. Objective of Recording business transactions? - Use the account as the essential classifying and storage unit for accounting information. - Articulate the effects of busi
Montana Company produces basketballs. It incurred the following costs during the year. Direct materials: $14,032 Direct Labor: $25,706 Fixed manufacturing overhead: $9,698
The industrial revolution in England presented a challenge to the development of accounting like a tool of industrial management. Costing techniques were urbanized as guides to man
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