Homework Answers
| October | November | December | |
| Budgeted S&A Expenses | |||
| Equipment lease expense | 6400 | 6400 | 6400 |
| Salary expense | 5400 | 5900 | 6300 |
| Cleaning supplies | 2830 | 2730 | 3010 |
| Insurance expense | 1500 | 1500 | 1500 |
| Depreciation on computer | 2200 | 2200 | 2200 |
| Rent | 1500 | 1500 | 1500 |
| Miscellaneous expenses | 740 | 740 | 740 |
| Total operating expenses | 20570 | 20970 | 21650 |
| Schedule of Cash Payments for S&A Expenses | |||
| Equipment lease expense | 6400 | 6400 | 6400 |
| Prior month’s salary expense, 100% | 0 | 5400 | 5900 |
| Cleaning supplies | 2830 | 2730 | 3010 |
| Insurance premium | 9000 | 0 | 0 |
| Depreciation on computer | 0 | 0 | 0 |
| Rent | 1500 | 1500 | 1500 |
| Miscellaneous expenses | 740 | 740 | 740 |
| Total disbursements for operating expenses | 20470 | 16770 | 17550 |
| b | |||
| Salaries payable | 6300 | ||
| c | |||
| Prepaid insurance | 4500 | =1500*3 |
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The budget director for Campbell Cleaning Services prepared the following list of expected selling and administrative...
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The budget director for Franklin 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 operations; accordingly, there are no beginning account balances. Required a. Complete the schedule of cash...
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The budget director for Stuart 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 operations; accordingly, there are no beginning account balances. Required Complete the schedule of cash payments...
The budget director for Munoz Cleaning Services prepared the following list of expected selling and administrative...
The budget director for Munoz 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 operations, accordingly, there are no beginning account balances. Required a. Complete the schedule of cash...
The budget director for Yardley Cleaning Services prepared the following list of expected selling and administrative...
The budget director for Yardley 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
operations; accordingly, there are no beginning account
balances.
Required
a. Complete the schedule of cash...
The budget director for Yardley Cleaning Services prepared the following list of expected selling and administrative...
The budget director for Yardley 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 operations; accordingly, there are no beginning account balances. Required a. Complete the schedule of cash...
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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...
Exercise 14-11 Preparing a schedule of cash payments for selling and administrative expenses LO 14.4 The...
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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 Finch 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...
Exercise 14-11 Preparing a schedule of cash payments for selling and administrative expenses LO 14-4 The budget directo...
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The budget director of Heather’s Florist has prepared the following sales budget. The company had $370,000...
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The budget director for Munoz 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 operations, accordingly, there are no beginning account balances. Required a. Complete the schedule of cash...
The budget director for Yardley 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
operations; accordingly, there are no beginning account
balances.
Required
a. Complete the schedule of cash...
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...
Exercise 14-11 Preparing a schedule of cash payments for selling and administrative expenses LO 14.4 The budget director for Fanning 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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