he following items were among those that were reported on Dye Co.'s income statement for the year ended December 31, 2020:

Legal and audit fees130,000

Rent for office space180,000

Interest on inventory floor plan210,000

Loss on abandoned equipment used in operations35,000

The office space is used equally by Dye's sales and accounting departments. What amount of the above-listed items should be classified as general and administrative expenses in Dye's income statement?

Answer rating: 100% (QA)

To determine the amount of the listed items that should be classified as general and administrative expenses in Dye Cos income statement we need to an... View the full answer