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July August September Salary expense 18,000 18,000 18,000 Sales commissions (4 % of sales) 1,700 1,700 1,700 Supplies expense 360 390 420 Utilities 1,100 1,100
July August September Salary expense 18,000 18,000 18,000 Sales commissions (4 % of sales) 1,700 1,700 1,700 Supplies expense 360 390 420 Utilities 1,100 1,100 1,100 Depreciation on store equipment 2,800 2,800 2,800 Rent 6,600 6,600 6,600 Miscellaneous 690 690 690 Total S&A expenses before interest 31,250 31,280 31,310 (A) prepare a schedule of cash payments for selling and administrative expenses. (B) determine the amount of utilities payable as of September 30. (C) determine the amount of sales commissions payable as of September 30
July August September Salary expense 18,000 Sales commissions (4 % of sales) 1,700 18,000 1,700 18,000 1,700 Supplies expense 360 390 420 Utilities 1,100 1,100 1,100 Depreciation on store equipment 2,800 2,800 2,800 Rent 6,600 6,600 6,600 Miscellaneous 690 690 690 Total S&A expenses before interest 31,250 31,280 31,310 (A) prepare a schedule of cash payments for selling and administrative expenses. (B) determine the amount of utilities payable as of September 30. (C) determine the amount of sales commissions payable as of September 30 Wynn is a retail company specializing in men hats. Its budget director prepared the list of expected operating expenses that follows. All items are paid when the expenses are incurred except sales commissions and utilities, which are paid in the month after they see incurred. July is the first month of operations, so there are no beginning account balances. July August September Salary expense 18,000 Sales commissions (4 % of sales) 1,700 18,000 1,700 Supplies expense 420 Utilities 1,100 Depreciation on store equipment 2,800 18,000 1,700 360 390 1,100 1,100 2,800 2,800 Rent 6,600 6,600 6,600 Miscellaneous 690 690 690 Total S&A expenses before interest 31,250 31,310 31,280 (A) Prepare a schedule of cash payments for selling and administrative expenses. (B) Determine the amount of utilities payable as of September 30. (C) Determine the amount of sales commissions payable as of September 30Step by Step Solution
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