Answered step by step
Verified Expert Solution
Question
1 Approved Answer
accounting 2: Budgeted Cash Payments (Just need a little help, problem is inclonplete and i dont know whats wrong Hector Company reports the following: Sales
accounting 2: Budgeted Cash Payments (Just need a little help, problem is inclonplete and i dont know whats wrong
Hector Company reports the following: Sales Purchases July August $28,000 $35,000 17,920 23,040 September $40,000 28,000 Payments for purchases are made in the month after purchase. Selling expenses are 18% of sales, administrative expenses are 8% of sales, and both are paid in the month of sale. Rent expense of $3,400 is paid monthly. Depreciation expense is $1,900 per month Prepare a schedule of budgeted cash payments for August and September. HECTOR COMPANY Budgeted Cash Payments For August and September August September Payments for Seling expenses $ 6,480 $ 7,200 Administrative expenses 2.880 3,200 Rent expense 3,400 3,400 Total budgeted cash payments $ 12,760 $ 13,800 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started