Homework Answers
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| Part A | |||||
| Schedule of cash payment for S&A Expense: | |||||
| October | November | December | |||
| Equipment lease expense | $ 6,700 | $ 6,700 | $ 6,700 | ||
| Prior month salary expense | $ 6,600 | $ 7,100 | |||
| Cleaning supplies | $ 2,850 | $ 2,720 | $ 3,090 | ||
| Insurance Premium | $1,500*6 Months | $ 9,000 | $ - | $ - | |
| Depreciation on Computer | Non Cash | $ - | $ - | $ - | |
| Rent | $ 2,400 | $ 2,400 | $ 2,400 | ||
| Miscellaneous Expense | $ 780 | $ 780 | $ 780 | ||
| Total Disbursment for operating Expense | $ 21,730 | $ 19,200 | $ 20,070 | ||
| Part B | |||||
| Salary Payable | $ 7,500 | Salary of December will be payable | |||
| Prepaid Insurance ($9,000-$4,500 3 Months) | $ 4,500 | ||||
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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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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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except salary expense and insurance. Salary is paid in the month
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