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Please answer both of the questions. If you are responding to this question please answer both, if not don't respond. Thank you in advance, I
Please answer both of the questions. If you are responding to this question please answer both, if not don't respond. Thank you in advance, I will make sure to thumbs up your response. Thank you!
Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January-March). The Accrued Expenses Payable balance on January 1 is $33,800. The budgeted expenses for the next three months are as follows: January February March Salaries $77,700 $94,600 $104,800 Utilities 6,400 7,100 8,500 Other operating expenses 59,100 64,400 70,900 Total $143,200 $ 166,100 $184,200 Other operating expenses include $4,200 of monthly depreciation expense and $1,000 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 70% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December. Prepare a schedule of cash payments for operations for January, February, and March. Enter all amounts as positive numbers. EastGate Physical Therapy Inc. Schedule of Cash Payments for Operations For the Three Months Ending March 31 January February Payments of prior month's expense $ $ March $ Payments of current month's expense Total cash payments X $ Schedule of cash payments for a 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: March $151,500 April 139,400 May 126,900 Depreciation, insurance, and property taxes represent $32,000 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. 66% 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. Excel Learning Systems Inc. Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31 March April May March expenses: Paid in March Paid in April April expenses: Paid in April Paid in May May expenses: Paid in May Total cash payments $Step by Step Solution
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