Which account is not classified as a selling expense

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Sales salaries B. Freight out C. Sales discounts D. Advertising expense. Where are the selling and administrative expenses found on the multi step income statement? Before gross profit B. After sales and before gross profit C. After net income before expenses D. After gross profit. When the three sections of a balance sheet are presented on a page in a downward sequence, it is called the A. Account form B. Comparative form C.

Horizontal form D. Report form. A chart of accounts for a merchandising business A. Usually is the same as a service business B. Requires more accounts than a service business C. Standardized by the FASB for all merch busi. Always use the three digit numbering system. Which of the following accounts has a normal debit balance? Accounts payable B. Sales returns and allowances C.

Sales D. Interest revenue. What is the amount of cash debited to the AP? When comparing a retail business to a service business, the financial statement that changes the most is the. When merchandise is returned under the perpetual inventory system, the buyer would credit. When goods are shipped FOB destination and the seller pays the freight charges, the buyer.

Makes no journal entry for freight. Generally, the revenue account for a merchandising business is entitled. B Freight-out. C Other Income. B a Cost of Purchasing Goods.

C recorded as an Operating Expense. D recorded as an asset 55 Which of the The following accounts are taken from the December 31, adjusted trial balance of the Reed Company: Cost of goods sold Bunk Drawings - B. Bunk Cash at Bank Inventory as at 30 June, Net Sales b. Gross Profit c. Income from Operations Create an Account and Get the Solution. Log into your existing Transtutors account. Have an account already? To change or withdraw your consent choices for Investopedia.

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What Are Selling Expenses? Selling expenses are either direct or indirect costs. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.

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This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Administrative Expenses Definition Administrative expenses are the costs an organization incurs not directly tied to a specific function such as manufacturing, production, or sales.

Operating Income Definition Operating income looks at profit after deducting operating expenses such as wages, depreciation, and cost of goods sold.

What's an Operating Cost? Operating costs are expenses associated with normal day-to-day business operations.