Question

What expenses are included in operating expenses for income statement for a small department store? General...

What expenses are included in operating expenses for income statement for a small department store? General expenses, administrative expenses, interest expense , delivery expense and income tax expense

Homework Answers

Answer #1
  • The expenses that will be included in Operating Expenses for Income statement for a small departmental store are:

--General Expenses

--Administrative expenses

--Delivery Expenses

Other operating expenses can be: Depreciation expenses, Salaries & Wages expenses, Freight out, etc.

  • Selling Expenses and General Administrative expenses are included in Operating Expenses section.
  • Interest expense is shown under “Other Revenues & Expenses” and does not belong to “Operating Expenses”
  • Income Tax Expenses is shown at last in the income statement after adjustment of “Other Revenues & Expenses”.
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