Quantum Leap Services has noticed the following items that need to be considered for its income statement for the year ended December 31, 2022:
Utility bill for December 2022
Office rent for January 2023
3 months advertising in a monthly magazine
Sales commissions for December sales
$1,650
12,500
8,100
9,400
The utility bill and the commissions will be paid in January 2023. The office rent was paid on December 29, 2022. The advertising was paid in
November 2022 and covers November and December 2022 and January 2023.
What is the proper amount of expenses to be included in the income statement for the year?
$26,250
$28,950
$31,650
$16,450
Multiple Choice
