Question
***, Please Show work Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash payments for operations for the
***, Please Show work
Schedule of Cash Payments for a Service Company
EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (JanuaryMarch). The Accrued Expenses Payable balance on January 1 is $32,500. The budgeted expenses for the next three months are as follows:
January February March Salaries $74,800 $91,000 $100,800 Utilities 6,200 6,800 8,100 Other operating expenses 56,800 61,900 68,200 Total $137,800 $159,700 $177,100
Other operating expenses include $4,100 of monthly depreciation expense and $900 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.
***, Please Show work
Schedule of Cash Payments for a Service Company
EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (JanuaryMarch). The Accrued Expenses Payable balance on January 1 is $32,500. The budgeted expenses for the next three months are as follows:
January | February | March | ||||
Salaries | $74,800 | $91,000 | $100,800 | |||
Utilities | 6,200 | 6,800 | 8,100 | |||
Other operating expenses | 56,800 | 61,900 | 68,200 | |||
Total | $137,800 | $159,700 | $177,100 |
Other operating expenses include $4,100 of monthly depreciation expense and $900 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 | March | |
Payments of prior month's expense | $ | $ | $ |
Payments of current month's expense | |||
Total cash payments | $ | $ | $ |
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