Acct301 week2

5 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 5 operations; accordingly, there are no beginning account balances. points Required a. Complete the schedule of cash payments for S&A expenses by filling In the missing amounts. eBook b. Determine the amount of salaries payable the company will report on its pro forma balance sheet at the end of the fourth quarter. c. Determine the amount of prepaid insurance the company will report on Its pro forma balance sheet at the end of the fourth quarter. Hint Complete this question by entering your answers in the tabs below. Ask Req A Req B and C Print Complete the schedule of cash payments for S&A expenses by filling in the missing amounts. October November December References Budgeted S&A Expenses Equipment lease expense 5 5,900 S 5,900 5,900 Salary expense 5,500 6,000 6,400 Cleaning supplies 2,820 2.700 3,010 Insurance expense 1,500 1.500 1,500 Depreciation on computer 1,800 1,800 1,800 Rent 1,700 1.700 1,700 Miscellaneous expenses 720 720 720 Total operating expenses $ 19.940 $ 20,320 $ 21,030 Schedule of Cash Payments for S&A Expenses