Solution
Horizon Financial Inc. | |||
Schedule of cash payment for Selling and Administrative Expenses | |||
For the Three Months Ending May 31 | |||
March | April | May | |
March Expense: | |||
Paid in march | $ 55,545.00* | ||
Paid in April | $ 24,955.00 | ||
April Expenses: | |||
Paid in April | $ 50,577.00 | ||
Paid in May | $ 22,723.00 | ||
May Expenses: | |||
Paid in May | $ 44,643.00 | ||
Total Cash Payments | $ 55,545.00 | $ 75,532.00 | $ 67,366.00 |
*80500 x 69%
.Working
March | April | May | |
Total expenses | $ 1,02,500.00 | $ 95,300.00 | $ 86,700.00 |
Less: Non cash expense | $ 22,000.00 | $ 22,000.00 | $ 22,000.00 |
Net Cash expense | $ 80,500.00 | $ 73,300.00 | $ 64,700.00 |
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28....
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $177,900 April 165,400 May 150,500 Depreciation, insurance, and property taxes represent $38,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 75% of the remainder of the expenses are expected...
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $87,500 April 80,500 May 73,300 Depreciation, insurance, and property taxes represent $18,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 61% of the remainder of the expenses are expected...
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $135,300 April 125,400 May 114,100 Depreciation, Insurance, and property taxes represent $29,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 70% of the remainder of the expenses are expected...
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $123,500 April 116,100 May 105,700 Depreciation, insurance, and property taxes represent $26,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 73% of the remainder of the expenses are expected...
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $145,800 April 138,500 May 126,000 Depreciation, insurance, and property taxes represent $32,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 70% of the remainder of the expenses are expected...
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $82,200 April 77,300 May 70,300 Depreciation, insurance, and property taxes represent $18,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 72% of the remainder of the expenses are expected...
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March April May Depreciation, insurance, and property taxes represent $25,000 of the estimated monthly expenses. The annual insurance premium was paid on February $116,400 110,600 100,600 expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June....
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $135,300 April 125,400 May 114,100 Depreciation, Insurance, and property taxes represent $29,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 70% of the remainder of the expenses are expected...
1. Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $172,200 April 158,400 May 144,100 Depreciation, insurance, and property taxes represent $36,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 74% of the remainder of the expenses are...
DOOR Calculator Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: May March $181.100 April 165,400 153,200 Depreciation, insurance, and property taxes represent $35,000 of the estimated monthly expenses. The annual insurance premium was paid on February 20, and prope taxes for the year will be paid in June. 63% of the remainder of the expenses...