Prepare a schedule indicating cash payments for selling

Reference no: EM131974171

Problem

Schedule of Cash Payments

Excel Learning Systems Inc. was organized on September 30, 20Y7. Projected selling and administrative expenses for each of the first three months of operations are as follows:

October $114,700
November 109,000
December 99,200

Depreciation, insurance, and property taxes represent $25,000 of the estimated monthly expenses. The annual insurance premium was paid on September 30, and property taxes for the year will be paid in June. The company expects that 58% of the remainder of the expenses will be paid in the month in which they are incurred, with the balance to be paid in the following month.

Prepare a schedule indicating cash payments for selling and administrative expenses for October, November, and December. Enter amounts as positive numbers.

Reference no: EM131974171

Questions Cloud

When must an insurable interest exist in life insurance : When must an insurable interest exist in life insurance? All of the following are reasons supporting the “buy term life and invest the difference” EXCEPT

What is your expected one-year rate of return : A 9 year, 9.8% coupon bond is callable at 103% of par and does not have call protection. What is your expected one-year rate of return if you buy the bond today

Reason for purchasing whole life insurance : Which of the following would not be a reason for purchasing Whole Life insurance?

Which policy will have a greater impact on aggregate demand : Consider two policies - a tax cut that will last for only one year and a tax cut that is expected to be permanent

Prepare a schedule indicating cash payments for selling : Prepare a schedule indicating cash payments for selling and administrative expenses for October, November, and December. Enter amounts as positive numbers.

Prepare the adjusting entry at december thirty first : Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate adjusted balance.

Discuss the advantages of lease versus purchase : Discuss the advantages and disadvantages of lease versus purchase. Make a decision about lease or purchase and present that option to Assistant Administrator.

How much will you have in your bank account on august : How much will you have in your bank account on August 1st of the same year? Consider an interest rate of 12% per year.

Calculate both basic and diluted earnings per share : The Sarasota Corporation issued 10-year, $4,390,000 par, 7% callable convertible subordinated debentures. Calculate both basic and diluted earnings per share.

User Account

All Pages