Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash...
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Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January-March). The Accrued Expenses Payable balance on January 1 is $27,700. The budgeted expenses for the next three months are as follows: January February March $63,700 $77,600 $85,900 5,300 5,800 6,900 49,000 53,400 58,800 $118,000 $136,800 $151,600 Salaries Utilities Other operating expenses Total Other operating expenses include $3,500 of monthly depreciation expense and $800 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 70% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December. Prepare a schedule of cash payments for operations for January, February, and March. EastGate Physical Therapy Inc. Schedule of Cash Payments for Operations For the Three Months Ending March 31 Total cash payments January February March Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January-March). The Accrued Expenses Payable balance on January 1 is $27,700. The budgeted expenses for the next three months are as follows: January February March $63,700 $77,600 $85,900 5,300 5,800 6,900 49,000 53,400 58,800 $118,000 $136,800 $151,600 Salaries Utilities Other operating expenses Total Other operating expenses include $3,500 of monthly depreciation expense and $800 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 70% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December. Prepare a schedule of cash payments for operations for January, February, and March. EastGate Physical Therapy Inc. Schedule of Cash Payments for Operations For the Three Months Ending March 31 Total cash payments January February March
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Related Book For
Financial and Managerial Accounting
ISBN: 978-1285078571
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Posted Date:
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