Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28....

Question

Question

Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and ad

expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 63% of

following month Prepare a schedule of cash payments for selling and administrative expenses for March, April, and May. Excel

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Schedule of cash payment

	march	April	May
March expense
Paid in march	(116400-25000)*63% = 57582
paid in April		33818
April expenses
Paid in april		(110600-25000)*63% = 53928
Paid in may			31672
May expenses
paid in may			47628
Total Cash payment	57582	87746	79300

Add a comment

Answer 2

Similar Homework Help Questions

Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28....

Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $135,300 April 125,400 May 114,100 Depreciation, Insurance, and property taxes represent $29,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 70% of the remainder of the expenses are expected...
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28....

Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $123,500 April 116,100 May 105,700 Depreciation, insurance, and property taxes represent $26,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 73% of the remainder of the expenses are expected...
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28....

Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $145,800 April 138,500 May 126,000 Depreciation, insurance, and property taxes represent $32,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 70% of the remainder of the expenses are expected...

Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28....

Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $82,200 April 77,300 May 70,300 Depreciation, insurance, and property taxes represent $18,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 72% of the remainder of the expenses are expected...
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28....

Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $103,700 April 97,500 May 88,700 Depreciation, insurance, and property taxes represent $22,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 67% of the remainder of the expenses are expected...
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected sell...

Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $135,300 April 125,400 May 114,100 Depreciation, Insurance, and property taxes represent $29,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 70% of the remainder of the expenses are expected...

Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28....

Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $177,900 April 165,400 May 150,500 Depreciation, insurance, and property taxes represent $38,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 75% of the remainder of the expenses are expected...
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28....

Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $102,500 April 95,300 86,700 May Depreciation, insurance, and property taxes represent $22,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 69% of the remainder of the expenses are expected...
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28....

Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $87,500 April 80,500 May 73,300 Depreciation, insurance, and property taxes represent $18,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 61% of the remainder of the expenses are expected...

Schedule of Cash Payments for a Service Company SafeMark Financial Inc. was organized on February 28....

Schedule of Cash Payments for a Service Company SafeMark Financial Inc. was organized on February 28. Profected selling and administrative expenses for each of the first three months of operations are as follows: March $154,600 April 146,900 May 133,700 Depreciation, insurance, and property taxes represent $33,000 of the estimated.monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 62% of the remainder of the expenses are expected to...

Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28....

Homework Answers