the imparting or exchanging of information or news.
Answer:
a- $ 838.50
b-$134.16
c- $618.59
d- see below
Explanation:
a- $10.75 X 78 hours = $v838.5
b- $ 838.5 X 16% = $ 134.16
c - $ 838.5 - federal and state income tax $ 134.16 - other ded $ 85.75 = 618.59
Answer:
Explanation:
The journal entry is shown below:
1st July Debit Prepaid insurance $13620
Credit Cash $13620
31st December Debit Insurance expenses $2270
Credit Prepaid insurance $2270
Insurance expense was calculated as:
= $13620/3 years × 6months/12months
= $4540 × 1/2
= $2270
Answer:
The correct answer is letter "D": percent-of-sales method.
Explanation:
The percentage-of-sales method is the fastest approach to develop a budget based on the financial statements. Expenses are compared to the net sales as percentages to be applied in the sales level for the budgeted period. However, to compare expenses to the items in the budget, the expense must be correlated to the item causing an issue because fixed expenses cannot be linked with sales, for instance.