Zisk Co. purchases raw materials on account. Budgeted purchase
amounts are: April, $86,000; May, $116,000; and June, $126,000.
Payments are made as follows: 70% in the month of purchase and 30%
in the month after purchase. The March 31 balance of accounts
payable is $28,000.
Prepare a schedule of budgeted cash payments for April, May, and
June.
|
Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $86,000; May, $116,000; and...
Zisk Co. purchases raw materials on account. Budgeted purchase amounts are April, $80,000; May, $110,000; and June, $120,000. Payments are made as follows: 70 % in the month of purchase and 30 % in the month after purchase. The March 31 balance of accounts payable is $22,000 Prepare a schedule of budgeted cash payments for April, May, and June. April May June Current month purchases 70% Ending accounts payable 30 % Total purchases ZISK CO. Schedule of Cash Payments For...
Zisk Co. purchases raw materials on account. Budgeted purchase amounts are April, $80,000; May, $110,000; and June, $120,000. Payments are made as follows: 70% in the month of purchase and 30% in the month after purchase. The March 31 balance of accounts payable is $22,000. Prepare a schedule of budgeted cash payments for April, May, and June. April May June 70% Current month purchases hases Ending accounts payable Total purchases 30% May June ZISK CO. Schedule of Cash Payments For...
Zisk Co. purchases raw materials on account. Budgeted purchase amounts are April, $99,000; May, $129,000; and June. $139,000. Payments are made as follows: 70% in the month of purchase and 30% in the month after purchase. The March 31 balance of accounts payable is $41,000. Prepare a schedule of budgeted cash payments for April, May, and June. April May June 70% Current month purchases Ending accounts payable Total purchases 30% $ 0 $ 0 $ 0 Zisk Co. Schedule of...
16. Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $98.000. May. $128.000, and June. $138,000. Payments are made as follows: 70% in the month of purchase and 30% in the month after purchase. The March 31 balance of accounts payable is $40,000 Prepare a schedule of budgeted cash payments for April May, and June points April Way 70% Current month purchases Ending accounts payable Total purchase Zisk Co Schedule of Cash Payments For April May, and...
Green Book
Green Book International purchases raw materials on account. Budgeted purchase amounts are April, $93,000; May, $123,000; and June, $133,000. Payments are made as follows: 75% in the month of purchase and 25% in the month after purchase. The March 31 balance of accounts payable is $35,000. Prepare a schedule of budgeted cash payments for April, May, and June April May June Jun Current month purchases Ending accounts payable Total purchases 75% 25% 0 $ GREEN BOOK INTERNATIONAL May...
Shorstein Manufacturing Company purchases raw materials on account each month. Purchases are paid for according to the following schedule: 30% is paid in the month of the purchase 60% is paid in the month following the purchase 10% is paid in the second month following the purchase Budgeted purchases are as follows: March $75,000 April $90,000 May $85,000 How much will be reported for Accounts Payable for material purchases as of the end of May? $59,500 O $68,500 $87,000 $95,500...
A company budgeted the following purchases for raw materials: Month January February March April May June July Budget $10,000 $20,000 $25,000 $22,000 $27,000 $30,000 $24,000 The company has a policy of paying for 40% of the purchases in the month of purchase, 35% in the month following the purchase, and 25% in the second month following the purchase. Based on this information, what are the budgeted cash disbursements for May?
Preparing an Accounts Payable Schedule Wight Inc. purchases raw materials on account for use in production. The direct materials purchases budget shows the following expected purchases on account: April $374,300 May 410,300 June 416,700 Wight typically pays 30% on account in the month of billing and 70% the next month. Required: 1. How much cash is required for payments on account in May? 2. How much cash is expected for payments on account in June?
Vernon Books expects to purchase the following supplies:
April
May
June
Required purchases (on account)
$
110,000
$
130,000
$
142,000
Vernon Books’s accountant prepared the following schedule of
cash payments for supplies purchases. Vernon Books’s suppliers
require that 85 percent of purchases on account be paid in the
month of purchase; the remaining 15 percent are paid in the month
following the month of purchase.
Required
Complete the schedule of cash payments for supplies purchases by
filling in the...
Fanning Books expects to purchase the following supplies:
April
May
June
Required purchases (on account)
$
112,000
$
132,000
$
144,000
Fanning Books’s accountant prepared the following schedule of
cash payments for supplies purchases. Fanning Books’s suppliers
require that 85 percent of purchases on account be paid in the
month of purchase; the remaining 15 percent are paid in the month
following the month of purchase.
Required
Complete the schedule of cash payments for supplies purchases by
filling in the...