Question
Benson is a retail company specializing in mens hats. Its budget director prepared the list of expected operating expenses that follows. All items are paid
Benson is a retail company specializing in mens hats. Its budget director prepared the list of expected operating expenses that follows. All items are paid when incurred except sales commissions and utilities, which are paid in the month following their incurrence. July is the first month of operations, so there are no beginning account balances.
July | August | September | |||||||
Salary expense | $ | 17,400 | $ | 17,400 | $ | 17,400 | |||
Sales commissions (4 percent of sales) | 3,400 | 3,400 | 3,400 | ||||||
Supplies expense | 350 | 380 | 410 | ||||||
Utilities | 2,500 | 2,500 | 2,500 | ||||||
Depreciation on store equipment | 3,500 | 3,500 | 3,500 | ||||||
Rent | 6,800 | 6,800 | 6,800 | ||||||
Miscellaneous | 700 | 700 | 700 | ||||||
Total S&A expenses before interest | $ | 34,650 | $ | 34,680 | $ | 34,710 | |||
Required
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Prepare a schedule of cash payments for selling and administrative expenses.
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Determine the amount of utilities payable as of September 30.
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Determine the amount of sales commissions payable as of September 30
Complete this question by entering your answers in the tabs below. Reg A Reg Band Prepare a schedule of cash payments for selling and administrative expenses. Schedule of Cash Payments for S&A Expenses Judy August September $ 0$ 05 0 Total payments for S&A expenses Req Band C > Complete this question by entering your answers in the tabs below. Req A Reg B and C Determine the amount of utilities payable and sales commissions payable as of September 30. b. Utilities payable c. Sales commissions payable ( Req A Ron Band
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