#7 May122,300Depreciation, insurance, and property taxes represent $31,000 of the estimated monthly expenses. The annual insurance premium was paidon February 28, and property taxes for the year will be paid in November. 62% of the remainder of the expenses are expected to be paid inthe month in which they are incurred, with the balance to be paid in the following month.Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May. Enter all amounts as positivenumbers.TADPOLE LEARNING SYSTEMS INC.Schedule of Cash Payments for Selling andAdministrative ExpensesFor the Three Months Ending May 31March expenses:Paid in MarchMarchPaid in AprilApril expenses:Paid in AprilPaid in MayMay expenses:Paid in MayTotal cash paymentsApril☐ ☐May Schedule of Cash PaymentsTadpole Learning Systems Inc. was organized on February 28. Projected selling and administrative expenses for each of the first threemonths of operations are as follows:March$143,000AprilMay134,400122,300Depreciation, insurance, and property taxes represent $31,000 of the estimated monthly expenses. The annual insurance premium was paidon February 28, and property taxes for the year will be paid in November. 62% of the remainder of the expenses are expected to be paid inthe month in which they are incurred, with the balance to be paid in the following month.< Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May. Enter all amounts as positivenumbers.TADPOLE LEARNING SYSTEMS INC.Schedule of Cash Payments for Selling andAdministrative ExpensesFor the Three Months Ending May 31March expenses:Paid in MarchPaid in AprilMarchAprilMay

Financial Management: Financial management comprises of two words i.e. Finance and management.…

Depreciation, insurance, and property taxes represent $31,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in November. 62% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May. Enter all amounts as positive numbers. TADPOLE LEARNING SYSTEMS INC. Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31 March expenses: Paid in March Paid in April April expenses: Paid in April Paid in May May expenses: Paid in May Total cash payments March April O DO May

Depreciation, insurance, and property taxes represent $31,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in November. 62% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May. Enter all amounts as positive numbers. TADPOLE LEARNING SYSTEMS INC. Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31 March expenses: Paid in March Paid in April April expenses: Paid in April Paid in May May expenses: Paid in May Total cash payments March April O DO May

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter8: Budgeting

Section: Chapter Questions

Problem 19E: Schedule of cash payments for service company Horizon Financial Inc. was organized on February 28....

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Schedule of cash payments for 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: Depreciation, insurance, and property taxes represent 9,000 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. Seventy percent of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. Prepare a schedule of cash payments for selling and administrative expenses for March, April, and May.
Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the month of purchase with the remaining balance paid the month after purchase. Prepare a cash payment schedule for January using this data: in December through February, it purchased $22,000, $25,000, and $23,000 respectively.
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Schedule of cash payments for a service companySafeMark Financial Inc. was organized on February 28. Projected selling andadministrative expenses for each of the first three months of operations are asfollows:March 578,400April 83,500May 96,900Depreciation, insurance, and property taxes represent $10,000 of the estimatedmonthly expenses. The annual insurance premium was paid on February 28, andproperty taxes for the year will be paid in June. Seventy percent of the remainder ofthe expenses are expected to be paid in the month in which they are incurred, withthe balance to be paid in the following month.Prepare a schedule indicating cash payments for selling and administrative expensesfor March, April, and May
Schedule of Cash Payments Tadpole Learning Systems Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $184,900 April 172,000 May 156,500 Depreciation, insurance, and property taxes represent $39,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taves for the year will be paid in November. 71% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. Prepare a schedule indicating cash payments for selling and administrative expenses for March, Apri, and May. Enter all amounts as positive numbers. TADPOLE LEARNING SYSTEMS INC. Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31 March Apr May March expenses Paid in March Paid in April Apri expenses Paidin April Pad in May May expenses Prepare a…
Schedule of Cash Payments Tadpole Learning Systems Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: Schedule of Cash Payments Tadpole Learning Systems Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $157,600 April 148,100 May 134,800 Depreciation, insurance, and property taxes represent $34,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in November. 62% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May. Enter all amounts as positive numbers. TADPOLE LEARNING SYSTEMS INC. Schedule of Cash…
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