Schedule of Cash Payments
Tadpole Learning Systems Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows:
March $115,700 April 107,600 May 97,900
Depreciation, insurance, and property taxes represent $24,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in November. 65% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month.
Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May. Enter all amounts as positive numbers.
TADPOLE LEARNING SYSTEMS INC. Schedule of Cash Payments for Selling and Administrative 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 first three months of operations are as follows:
| March | $115,700 |
| April | 107,600 |
| May | 97,900 |
Depreciation, insurance, and property taxes represent $24,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in November. 65% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month.
Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May. Enter all amounts as positive numbers.
| TADPOLE LEARNING SYSTEMS INC. | ||||||||||||||||||||||||||||||||||||||||||
| Schedule of Cash Payments for Selling and Administrative Expenses | ||||||||||||||||||||||||||||||||||||||||||
| For the Three Months Ending May 31
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Related questions
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
Excel Learning Systems Inc. was organized on September 30, 2016.Projected selling and administrative expenses for each of the firstthree months of operations are as follows:
| October | $149,700 |
| November | 139,200 |
| December | 126,700 |
Depreciation, insurance, and property taxes represent $32,000 ofthe estimated monthly expenses. The annual insurance premium waspaid on September 30, and property taxes for the year will be paidin June. The company expects that 61% of the remainder of theexpenses will be paid in the month in which they are incurred, withthe balance to be paid in the following month.
Prepare a schedule indicating cash payments for selling andadministrative expenses for October, November, and December.
| ExcelLearning Systems Inc. | |||
| Schedule ofCash Payments for Selling and Administrative Expenses | |||
| For the ThreeMonths Ending December 31, 2016 | |||
| October | November | December | |
| October expenses: | |||
| Paid in October | $ | ||
| Paid in November | $ | ||
| November expenses: | |||
| Paid in November | |||
| Paid in December | $ | ||
| December expenses: | |||
| Paid in December | |||
| Total cash payments | $ | $ | $ |
Schedule of CashPayments
Excel Learning Systems Inc. was organized on September 30, 2016.Projected selling and administrative expenses for each of the firstthree months of operations are as follows:
| October | $152,700 |
| November | 142,000 |
| December | 129,200 |
Depreciation, insurance, and property taxes represent $32,000 ofthe estimated monthly expenses. The annual insurance premium waspaid on September 30, and property taxes for the year will be paidin June. The company expects that 63% of the remainder of theexpenses will be paid in the month in which they are incurred, withthe balance to be paid in the following month.
Prepare a schedule indicating cash payments for selling andadministrative expenses for October, November, and December.
| ExcelLearning Systems Inc. | |||
| Schedule ofCash Payments for Selling and Administrative Expenses | |||
| For the ThreeMonths Ending December 31, 2016 | |||
| October | November | December | |
| October expenses: | |||
| Paid in October | $ | ||
| Paid in November | $ | ||
| November expenses: | |||
| Paid in November | |||
| Paid in December | $ | ||
| December expenses: | |||
| Paid in December | |||
| Total cash payments | $ | $ | $ |
