Answer:
The aggregate budgeted selling expense for the month of February amounts to $20,900
Explanation:
Selling expense budget is the plan which estimate the selling expense which happen in that period or year or month. It is related to the marketing as well as selling the product to customers. And involve advertising expense, commission, delivery cost and signs.
The aggregate budgeted selling expense for the month of February is computed as:
Aggregate budgeted selling expense = Commission + Monthly Salary of Sales manager + Advertising expense
where
Commission is as:
Commission = Sales × 5%
= $318,000 × 5%
= $15,900
Monthly Salary of Sales manager is $3,700
Advertising expense is $1,300
So,
Aggregate budgeted selling expense = $15,900 + $3,700 + $1,300
Aggregate budgeted selling expense = $20,900
Answer: $4.1 million
Explanation:
From the question, we are informed that the ending retained earnings balance of the Taco Heaven restaurant chain increased by $2.6 million from the beginning of the year and that the company had declared a dividend of $1.5 million.
The net income earned during the year will be:
= $2.6 million + $1.5 million
= $4.1 million
Answer:
Too much globalization is lack of resources which leads to more disease and death
Answer and Explanation:
The journal entry to record the issuance of the bonds is shown below:
Cash Dr ($8,000,000 × 1.03) $8,240,000
To Bond payable $8,000,000
To Premium on bond payable $240,000
(Being issuance of the bond is recorded)
Here cash is debited as it increased the asset and credited the bond payable and the premium on bond payable as it increased the liabilities
Hence, the same is to be considered
