ng Enabled: Exam $1$ Spring $2025$

Saved

Help

Save & Exit

Submit

The following information has been provided by Miller Company:

Advertising expense $$19,800$

Interest expense $$7,400$

Rent expense for store $$24,000$

Loss on sale of property and equipment $$11,400$

Cost of goods sold $$42,600$

Depreciation expense $$14,200$

Prepaid insurance $$2,000$

What is the amount included in the Other Items section of Miller's income statement?

Multiple Choice

$$38,600$

$$18,800$

$$27,600$

$$7,400$

Prev

$19$ of $30$

Next

g Enabled: Exam $1$ Spring $2025$ i

Saved

Help

Save & Exit

Submit

A company receives a $$50,000$ cash deposit from a customer on October $15$ but will not deliver the goods until November $20.$ Which of the following statements is true?

Multiple Choice

Revenue will be recorded and reported on the income statement for October.

A liability will be reported on the balance sheet at the end of October.

A prepaid asset will be reported on the balance sheet at the end of October.

Cash will be reported on the statement of cash flows for the month of November.

Prev

$20$ of $30$

Nextm

$20$ of

Nex,

ET

F$8$