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Walton is a retail company specializing in men's hats. Its budget director prepared the list of expected operating expenses that follows. All items are
Walton is a retail company specializing in men's 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. Salary expense September $ 18,600 July $ 18,600 Sales commissions (4 percent of sales) Supplies expense Utilities Depreciation on store equipment Rent Miscellaneous 3,000 280 August $ 18,600 3,000 310 3,000 340 2,300 2,300 2,300 3,500 3,500 3,500 7,200 7,200 7,200 630 630 630 Total S&A expenses before interest $ 35,510 $ 35,540 $ 35,570 Required 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Req A Req B and C Prepare a schedule of cash payments for selling and administrative expenses. Schedule of Cash Payments for Selling and Admin Expenses July August September Salary expense Sales commissions Supplies expense Utilities Rent Miscellaneous Depreciation expense Total payments for S&A expenses S 0 S 0 S 0 < Req A Req B and C > Answer is not complete. Complete this question by entering your answers in the tabs below. Req A Req B and C Determine the amount of utilities payable and sales commissions payable as of September 30. b. Utilities payable c. Sales commissions payable < ReqA Req B and C >
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