Tyler Sheen is the owner of Sheen's Inn. He provided the selected opening balances as at June 1, 2020 and the budgeted i
Posted: Fri Jul 01, 2022 7:48 am
Tyler Sheen is the owner of Sheen's Inn. He provided theselected opening balances as at June 1, 2020 and the budgetedinformation for June and July 2020.
Do not enter dollar signs or commas in the input boxes.Round your answer to the nearest dollarThe company’s monthly depreciation represents 20% of general andadministration costs. 70% percent of the general and administrationcosts (excluding depreciation) are paid in the month in which theyare incurred, and the rest is recorded in accounts payable to bepaid in the next month. Of the $156,000 capital expenditures forJune, $98,000 will be paid in July. The remaining amount will bepaid in the month in which they are incurred.a) Calculate the total cash disbursement for the month ofJune.General Administration costs from May $AnswerGeneral Administration costs from June $AnswerCapital Expenditure $AnswerTotal cash disbursement for June $Answerb) Calculate the total cash disbursement for the month ofJuly.General Administration costs From June $AnswerGeneral Administration costs From July $AnswerCapital Expenditure from June $AnswerCapital Expenditure from July $AnswerTotal cash disbursement for July $Answer
Do not enter dollar signs or commas in the input boxes.Round your answer to the nearest dollarThe company’s monthly depreciation represents 20% of general andadministration costs. 70% percent of the general and administrationcosts (excluding depreciation) are paid in the month in which theyare incurred, and the rest is recorded in accounts payable to bepaid in the next month. Of the $156,000 capital expenditures forJune, $98,000 will be paid in July. The remaining amount will bepaid in the month in which they are incurred.a) Calculate the total cash disbursement for the month ofJune.General Administration costs from May $AnswerGeneral Administration costs from June $AnswerCapital Expenditure $AnswerTotal cash disbursement for June $Answerb) Calculate the total cash disbursement for the month ofJuly.General Administration costs From June $AnswerGeneral Administration costs From July $AnswerCapital Expenditure from June $AnswerCapital Expenditure from July $AnswerTotal cash disbursement for July $Answer