Homework Answers
1) Schedule of cash payment
| July | August | September | |
| Salaries | 12000 | 12000 | 12000 |
| Sales commission | 0 | 1000 | 1000 |
| Supplies | 180 | 195 | 210 |
| Utilities | 0 | 550 | 550 |
| Depreciation on store equipment | 1500 | 1500 | 1500 |
| rent | 3300 | 3300 | 3300 |
| Miscellaneous | 345 | 345 | 345 |
| Total cash payment | 17325 | 18890 | 18905 |
b) Utilities payable = $550
c) Sales commission payable = $1000
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are as follows: sales commissions, $24,000; rent, $17,500;
utilities, $4,100; depreciation, $3,900; and miscellaneous, $1,500.
Utilities are paid in the month after incurrence. Other expenses
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July
August
September
Salaries
$60,500
$73,600
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Utilities
5,000
5,500
6,600
Other operating expenses
46,600
50,800
55,900
Total
$112,100
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operations for the third quarter (July–September), 2017. The
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Other operating expenses include $3,300 of monthly depreciation
expense and $800 of monthly insurance expense that was prepaid for
the year on March 1 of the current year. Of the remaining...
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