Schedule indicating cash payments for operating expenses

Reference no: EM13142555

Ackerman Company was organized on May 31 of the current year. Projected operating expenses for each of the first three months of operations are as follows:

June $64,000
July 81,000
August 104,500

Depreciation, insurance, and property taxes represent $15,000 of the estimated monthly operating expenses. The annual insurance premium was paid on May 31, and property taxes for the year will be paid in December. Three-fourths of the remainder of the operating expenses are expected to 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 operating expenses for June, July, and August.

Reference no: EM13142555

Questions Cloud

How might information delivered by the accountant affect : You believe the shop needs a more experienced salesperson and that the building need new paint and awnings. how might the information delivered by the accountant affect your decisions and course of action?

Why do bacteria secrete proteins : Why do bacteria secrete proteins? Select one: a. It is a strict requirement for function and to manipulate their environment b. To manipulate their environment and breakdown host target cells c. To change the host cell into a different type of cel..

What advice do you have for mary lour : As a tax planner, what advice do you have for Mary Lou? Is there a way to structure the payments to minimize Mary Lou's Income tax?

Null and alternative hypotheses for depression on thyroid : She gathers a sample of 35 subjects with depression and obtains a sample mean of 7.82 micrograms/100 ml. What are the null and alternative hypotheses for this study?

Schedule indicating cash payments for operating expenses : Prepare a schedule indicating cash payments for operating expenses for June, July, and August.

How to calculate net filtration pressure of capillary : how to calculate net filtration pressure of capillary? and venous end?

What would be effect of removing the matching : What would be the effect of removing either the Matching Principle or the Revenue Recognition Principle from the process? Use a concrete example of how doing so might affect accounting in a given period.

Material participant in the restaurant activity : Maria, who owns a 50% interest in a restaurant, has been a material participant in the restaurant activity for the last 20 years. She retired from the restaurant at the end of last year and will not participate in the restaurant activity in the fu..

Define the concept of opportunity cost : What is the net present value of this proposed project? If efficiency was the only objective for making the decision and we have fully accounted for all costs and benefits would you recommend the project go ahead or not?

User Account

All Pages