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Select Physical Therapy Inc. is planning its cash payments for operations for the third quarter, 2013. The Accrued Expenses Payable balance on July 1 is $25,000. The budgeted expenses for the next three months are as follows: July August September Salaries $57,500 $70,000 $77,500 Utilities 4,800 5,300 6,300 Other operating expenses 43,700 47,600 52,400 Total $106,000 $122,900 $136,200 Other operating expenses include $3,200 of monthly depreciation expense and $700 of monthly insurance expense that was prepaid for the year on March 1 of the current year. Of the remaining expenses, 75% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on July 1 relates to the expenses incurred in June. Prepare a schedule of cash payments for operations for July, August, and September. July Aug Sept Payments of prior month's expense Payment of current month's expense Total payment?
The kurten corporation is authorized to issue $500000 0f 8% bonds interest on the bond payable semiannually ;the bond are dated january 1,2010 and are due december 31,2015
Slanted Building Supplies purchased 32 percent of the voting shares of Flat Flooring Company in March 20X3. On December 31, 20X3, the officers of Slanted Building Supplies indicated they needed advice on whether to use the equity method or cost me..
Available-for-sale securities are securities that management expects to sell in the future, but are not actively traded for profit.
Salaries and Wages Expense $14,000; Insurance Expense $1,800; Rent Expense $3,900; Supplies Expense $1,500; and Depreciation Expense $1,000. Prepare an income statement for the year.
All other fixed manufacturing overhead costs represent current cash flows. The January cash disbursements for manufacturing overhead on the manufacturing overhead budget should be:
Suppose fixed- and variable-cost pools were allocated separately. Specify how each pool should be allocated. Compute the cost allocated to the Public Works Department in August.
Prepare the bank reconciliation as of May 31, 2007. Prepare the necessary adjusting entries at May 31, 2007.
The PDQ Partnership earned ordinary income of $150,000 in 2012. The partnership has three equal partners, Pete, Donald, and Quint. Quint who is single, uses the standard deduction, and has other income of $15,000 (not connected with the partnershi..
How are the income statement and statement of cash flows used to make business decisions? What are the advantages and limitations of using them to make decisions affecting the future of a business?
First assume that all of the deferred money and accumulated interest is paid out along with the final salary payment at the end of 2012. Use 5.5% as the discount rate. What is the present value (as of the signing date) of Ichiro's contract under t..
Net income (or net loss) during 2010, assuming that as of December 31, 2010, assets were $960,000, liabilities were $156,000, and there were no additional investments or withdrawals.
The Ice Corporation issues 30,000 shares of $50 par value preferred stock for cash at $60 per share. The entry to record the transaction will consist of a debit to Cash for $1,800,000 and a credit or credits to:
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