Homework Answers
a. Budgated cash payments = sales commission + rent + miscellaneous expense
= $26500+10000+1500
= $38000
b. Utilities payable = $4400
c. Depreciation expense = $3700
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January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to...
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to...
January budgeted selling and administrative expenses for the
retail shoe store that Craig Shea plans to open on January 1, 2018,
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
are expected to be paid in cash in the month in which they are
incurred.
Required
Determine the amount of budgeted cash payments for January
selling and administrative expenses.
Determine the amount of utilities...
Che January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans...
Che January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to open on January 1, 2018, are as follows: sales commissions, $24,000; rent, $17,000; utilities, $5,900; depreciation, $4,400; and miscellaneous, $2,200. Utilities are pold in the month after incurrence. Other expenses are expected to be paid in cash in the month in which they are incurred. 15 points Required a. Determine the amount of budgeted cash payments for January selling and administrative expenses. b....
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to...
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to open on January 1, 2018, are as follows: sales commissions. $26,000: rent. $15,000; utilities, $5.600: depreciation. $3.900: and miscellaneous, 51,300. Utilities are paid in the month after incurrence. Other expenses are expected to be paid in cash in the month in which they are incurred, Required a. Determine the amount of budgeted cash payments for January selling and administrative expenses. b. Determine the amount...
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to...
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to open on January 1, 2018, are as follows: sales commissions, $27,000; rent, $12,500; utilities, $5,000; depreciation, $3,200; and miscellaneous, $2,800. Utilities are paid in the month after incurrence. Other expenses are expected to be paid in cash in the month in which they are incurred. Required a. Determine the amount of budgeted cash payments for January selling and administrative expenses. b. Determine the amount...
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to...
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to open on January 1, 2018, are as follows: sales commissions, $25,500; rent, $14,000; utilities, $5,000; depreciation, $4,800; and miscellaneous, $1,300. Utilities are paid in the month after incurrence. Other expenses are expected to be paid in cash in the month in which they are incurred. Required a. Determine the amount of budgeted cash payments for January selling and administrative expenses. b. Determine the amount...
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to...
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to open on January 1, 2018, are as follows: sales commissions, $27,500; rent, $12,500; utilities, $4,600; depreciation, $4,500; and miscellaneous, $1,500. Utilities are paid in the month after incurrence. Other expenses are expected to be paid in cash in the month in which they are incurred. Required a. Determine the amount of budgeted cash payments for January selling and administrative expenses. b. Determine the amount...
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to...
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to open on January 1, year 1, are as follows: sales commissions, $22,000, rent, $18,000, utilities, $4,900, depreciation, $4,900; and miscellaneous, $1,300. Utilities are paid in the month after they are incurred. Other expenses are expected to be paid in cash in the month in which they are incurred. Required a. Determine the amount of budgeted cash payments for January selling and administrative expenses. b....
Preparing a schedule of cash payments for selling and administrative expenses The controller for Braddock Laundry...
Preparing a schedule of cash payments for selling and administrative expenses The controller for Braddock Laundry Services prepared the following list of expected selling and administrative expenses. All expenses requiring cash payments except salary expense and insurance are paid for in the month incurred. Salary is paid in the month following its incursion. The annual insurance premium is paid in advance on January 1. January is the first month of operations. Accordingly, there are no beginning account balances. January March...
Problem 7-19A (Algo) Preparing a schedule of cash payments for selling and administrative expenses LO 7-4...
Problem 7-19A (Algo) Preparing a schedule of cash payments for selling and administrative expenses LO 7-4 Munoz is a retail company specializing in men's hats. Its budget director prepared the list of expected operating expenses that follows. All items are paid when incurred except sales commissions and utilities, which are paid in the month following their incurrence. July is the first month of operations, so there are no beginning account balances. Salary expense Sales commissions (4 percent of sales) Supplies...
15. Connor Company began operations on January 1 and has projected the following selling and administrative...
15. Connor Company began operations on January 1 and has projected the following selling and administrative expenses 囲(Click on the icon to view the selling and administrative expenses.) Determine the cash payments for selling and administrative expenses for the first three months of operations. (Complete all answer boxes. Enter a "O for zero amounts.) January FebruaryMarch Data Table Rent Expense Utilities Expense Depreciation Expense Insurance Expense Total cash payments for selling and administrative expenses Rent Expense Utilities Expense Depreciation Expense...
January budgeted selling and administrative expenses for the
retail shoe store that Craig Shea plans to open on January 1, 2018,
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
are expected to be paid in cash in the month in which they are
incurred.
Required
Determine the amount of budgeted cash payments for January
selling and administrative expenses.
Determine the amount of utilities...
Che January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to open on January 1, 2018, are as follows: sales commissions, $24,000; rent, $17,000; utilities, $5,900; depreciation, $4,400; and miscellaneous, $2,200. Utilities are pold in the month after incurrence. Other expenses are expected to be paid in cash in the month in which they are incurred. 15 points Required a. Determine the amount of budgeted cash payments for January selling and administrative expenses. b....
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to open on January 1, 2018, are as follows: sales commissions. $26,000: rent. $15,000; utilities, $5.600: depreciation. $3.900: and miscellaneous, 51,300. Utilities are paid in the month after incurrence. Other expenses are expected to be paid in cash in the month in which they are incurred, Required a. Determine the amount of budgeted cash payments for January selling and administrative expenses. b. Determine the amount...
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to open on January 1, 2018, are as follows: sales commissions, $27,000; rent, $12,500; utilities, $5,000; depreciation, $3,200; and miscellaneous, $2,800. Utilities are paid in the month after incurrence. Other expenses are expected to be paid in cash in the month in which they are incurred. Required a. Determine the amount of budgeted cash payments for January selling and administrative expenses. b. Determine the amount...
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to open on January 1, 2018, are as follows: sales commissions, $25,500; rent, $14,000; utilities, $5,000; depreciation, $4,800; and miscellaneous, $1,300. Utilities are paid in the month after incurrence. Other expenses are expected to be paid in cash in the month in which they are incurred. Required a. Determine the amount of budgeted cash payments for January selling and administrative expenses. b. Determine the amount...
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to open on January 1, 2018, are as follows: sales commissions, $27,500; rent, $12,500; utilities, $4,600; depreciation, $4,500; and miscellaneous, $1,500. Utilities are paid in the month after incurrence. Other expenses are expected to be paid in cash in the month in which they are incurred. Required a. Determine the amount of budgeted cash payments for January selling and administrative expenses. b. Determine the amount...
January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans to open on January 1, year 1, are as follows: sales commissions, $22,000, rent, $18,000, utilities, $4,900, depreciation, $4,900; and miscellaneous, $1,300. Utilities are paid in the month after they are incurred. Other expenses are expected to be paid in cash in the month in which they are incurred. Required a. Determine the amount of budgeted cash payments for January selling and administrative expenses. b....
Preparing a schedule of cash payments for selling and administrative expenses The controller for Braddock Laundry Services prepared the following list of expected selling and administrative expenses. All expenses requiring cash payments except salary expense and insurance are paid for in the month incurred. Salary is paid in the month following its incursion. The annual insurance premium is paid in advance on January 1. January is the first month of operations. Accordingly, there are no beginning account balances. January March...
Problem 7-19A (Algo) Preparing a schedule of cash payments for selling and administrative expenses LO 7-4 Munoz is a retail company specializing in men's hats. Its budget director prepared the list of expected operating expenses that follows. All items are paid when incurred except sales commissions and utilities, which are paid in the month following their incurrence. July is the first month of operations, so there are no beginning account balances. Salary expense Sales commissions (4 percent of sales) Supplies...
15. Connor Company began operations on January 1 and has projected the following selling and administrative expenses 囲(Click on the icon to view the selling and administrative expenses.) Determine the cash payments for selling and administrative expenses for the first three months of operations. (Complete all answer boxes. Enter a "O for zero amounts.) January FebruaryMarch Data Table Rent Expense Utilities Expense Depreciation Expense Insurance Expense Total cash payments for selling and administrative expenses Rent Expense Utilities Expense Depreciation Expense...
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