5. Brocks Corporation reports operating expenses in two categories (1) Selling and (2) general and administrative....

Transcribed Image Text:

5. Brocks Corporation reports operating expenses in two categories (1) Selling and (2) general and administrative. The adjusted trial balance at December 31, 2020 included the following expenses and loss accounts: Accounting and legal fees-P120,000 Advertising Expenses - 150,000 Freight out- 80,000 Interest expenses- 70,000 Loss on sale of long-term investment - 30,000 Officer's salaries - 225,000 Rent for Office space - 220,000 Sales Salaries and commission - 140,000 One-half of the rented premises is occupied by the sales department. Hence, the total selling expense for 2020 would amounted to 5. Brocks Corporation reports operating expenses in two categories (1) Selling and (2) general and administrative. The adjusted trial balance at December 31, 2020 included the following expenses and loss accounts: Accounting and legal fees-P120,000 Advertising Expenses - 150,000 Freight out- 80,000 Interest expenses- 70,000 Loss on sale of long-term investment - 30,000 Officer's salaries - 225,000 Rent for Office space - 220,000 Sales Salaries and commission - 140,000 One-half of the rented premises is occupied by the sales department. Hence, the total selling expense for 2020 would amounted to