Homework Answers
Answer :
| Answer | Explanation | ||
|---|---|---|---|
| a | Budgeted cash payments | $43,200 | (sales commissions + rent + miscellaneous) = ($24,000 + $17,000 + $2,200) |
| b | Utilities payable | $5,900 | Utilities for Jan |
| c | Depreciation expense | $52,800 | Depreciation for Jan * 12 = $4,400 * 12 |
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Che January budgeted selling and administrative expenses for the retail shoe store that Craig Shea plans...
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...
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, $26,500; rent, $10,000; utilities, $4,400; depreciation, $3.700: 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, 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...
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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 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...
The purchasing department manager for Franklin Company prepared the following supplies purchases budget. Franklin's policy is...
The purchasing department manager for Franklin Company prepared the following supplies purchases budget. Franklin's policy is to maintain an ending supplies balance equal to 10 percent of the following month's supplies expense. April's budgeted supplies expense is $77,000. Required a. Complete the supplies purchases budget by filling in the missing amounts. b. Determine the amount of supplies expense the company will report on its first quarter pro forma income statement c. Determine the amount of ending supplies the company will...
Exercise 14-11 Preparing a schedule of cash payments for selling and administrative expenses LO 14-4 The...
Exercise 14-11 Preparing a schedule of cash payments for selling
and administrative expenses LO 14-4
The budget director for Benson Cleaning Services prepared the
following list of expected selling and administrative expenses. All
expenses requiring cash payments are paid for in the month incurred
except salary expense and insurance. Salary is paid in the month
following the month in which it is incurred. The insurance premium
for six months is paid on October 1. October is the first month of...
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...
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, $26,500; rent, $10,000; utilities, $4,400; depreciation, $3.700: 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, 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...
The purchasing department manager for Franklin Company prepared the following supplies purchases budget. Franklin's policy is to maintain an ending supplies balance equal to 10 percent of the following month's supplies expense. April's budgeted supplies expense is $77,000. Required a. Complete the supplies purchases budget by filling in the missing amounts. b. Determine the amount of supplies expense the company will report on its first quarter pro forma income statement c. Determine the amount of ending supplies the company will...
Exercise 14-11 Preparing a schedule of cash payments for selling
and administrative expenses LO 14-4
The budget director for Benson Cleaning Services prepared the
following list of expected selling and administrative expenses. All
expenses requiring cash payments are paid for in the month incurred
except salary expense and insurance. Salary is paid in the month
following the month in which it is incurred. The insurance premium
for six months is paid on October 1. October is the first month of...
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