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28 Sep 2019
Schedule of Cash Payments
Tadpole Learning Systems Inc. was organized on February 28.Projected selling and administrative expenses for each of the firstthree months of operations are as follows:
March $171,300 April 161,000 May 146,500
Depreciation, insurance, and property taxes represent $37,000 ofthe estimated monthly expenses. The annual insurance premium waspaid on February 28, and property taxes for the year will be paidin November. 58% of the remainder of the expenses are expected tobe paid in the month in which they are incurred, with the balanceto be paid in the following month.
Prepare a schedule indicating cash payments for selling andadministrative expenses for March, April, and May. Enter allamounts as positive numbers.
TADPOLE LEARNING SYSTEMS INC. Schedule of Cash Payments for Selling andAdministrative 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 $ $ $
Schedule of Cash Payments
Tadpole Learning Systems Inc. was organized on February 28.Projected selling and administrative expenses for each of the firstthree months of operations are as follows:
March | $171,300 |
April | 161,000 |
May | 146,500 |
Depreciation, insurance, and property taxes represent $37,000 ofthe estimated monthly expenses. The annual insurance premium waspaid on February 28, and property taxes for the year will be paidin November. 58% of the remainder of the expenses are expected tobe paid in the month in which they are incurred, with the balanceto be paid in the following month.
Prepare a schedule indicating cash payments for selling andadministrative expenses for March, April, and May. Enter allamounts as positive numbers.
TADPOLE LEARNING SYSTEMS INC. | |||
Schedule of Cash Payments for Selling andAdministrative 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 | $ | $ | $ |
Collen VonLv2
28 Sep 2019