- Exercise 14 11a Static Preparing A Schedule Of Cash Payments For Selling And Administrative Expenses Lo 14 4 The Budge 1 (107 KiB) Viewed 12 times
- Exercise 14 11a Static Preparing A Schedule Of Cash Payments For Selling And Administrative Expenses Lo 14 4 The Budge 2 (42.66 KiB) Viewed 12 times
Exercise 14-11A (Static) Preparing a schedule of cash payments for selling and administrative expenses LO 14-4 The budget director for Kanosh Cleaning Services prepared the following list of expected selling and administrative expenses. All expenses requiring cash payments are paid for in the month incurred except salary expense and insurance. Salary is paid in the month following the month in which it is incurred. The insurance premium for six months is paid on October 1. October is the first month of operations; accordingly, there are no beginning account balances. Required a. Complete the schedule of cash payments for S&A expenses by filling in the missing amounts. b. Determine the amount of salaries payable the
company will report on its pro forma balance sheet at the end of the fourth quarter. c. Determine the amount of prepaid insurance the
company will report on its pro forma balance sheet at the end of the fourth quarter. Complete this
question by entering your answers in the tabs below. Req A Req B and C Complete the schedule of cash payments for S&A expenses by filling in the missing amounts. October November December Budgeted S&A Expenses Equipment lease expense $ 7,500 $ 7,500 $ 7,500 Salary expense 8,200 8,700 9,000 Cleaning supplies 2,800 2,730 3,066 Insurance expense 1,200 1,200 1,200 1,800 1,800 1,800 Depreciation on computer Rent 1,700 1,700 1,700 Miscellaneous expenses 700 700 700 Total operating expenses $ 23,900 $ 24,330 24,966 $
b. Determine the amount of salaries payable the
company will report on its pro forma balance sheet at the end of the fourth quarter. c. Determine the amount of prepaid insurance the
company will report on its pro forma balance sheet at the end of the fourth quarter. Complete this
question by entering your answers in the tabs below. Req A Req B and C Determine the amount of salaries payable and prepaid insurance the
company will report on its pro forma balance sheet at the end of the fourth quarter. b. Salaries payable c. Prepaid insurance < Req A Req B and C >