Tyler Sheen is the owner of Stop by Inn. He provided the selected opening balances as of
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Question:
- Tyler Sheen is the owner of Stop by Inn. He provided the selected opening balances as of June 1, 2020, and the budgeted information for June and July 2020.
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Do not enter dollar signs or commas in the input boxes.
Round your answer to the nearest dollar
The company’s monthly depreciation represents 20% of general and administration costs. 80% percent of the general and administration costs (excluding depreciation) are paid in the month in which they are incurred, and the rest is recorded in accounts payable to be paid in the next month. Of the $169,000 capital expenditures for June, $114,000 will be paid in July. The remaining amount will be paid in the month in which they are incurred.
a) Calculate the total cash disbursement for the month of June.
General Administration costs from May $- General Administration costs from June $
- Capital Expenditure $
- Total cash disbursement for June $
- b) Calculate the total cash disbursement for the month of July.
General Administration costs From June $ - General Administration costs From July $
- Capital Expenditure from June $
- Capital Expenditure from July $
- Total cash disbursement for July $
Related Book For
Introduction To Financial Accounting
ISBN: 9781526803009
9th Edition
Authors: Anne Marie Ward, Andrew Thomas
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