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In: Accounting
Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash...
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 $25,400. The budgeted expenses for the next three months are as follows:
| January | February | March | ||||
| Salaries | $58,400 | $71,100 | $78,700 | |||
| Utilities | 4,800 | 5,300 | 6,400 | |||
| Other operating expenses | 45,000 | 49,100 | 54,000 | |||
| Total | $108,200 | $125,500 | $139,100 | |||
Other operating expenses include $3,200 of monthly depreciation expense and $700 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 80% 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. Enter all amounts as positive numbers.
| EastGate Physical Therapy Inc. | |||
| Schedule of Cash Payments for Operations | |||
| For the Three Months Ending March 31 | |||
| January | February | March | |
| $ | $ | $ | |
| Total cash payments | $ | $ | $ |
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash...
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 $34,100. The budgeted
expenses for the next three months are as follows:
January
February
March
Salaries
$78,400
$95,500
$105,700
Utilities
6,500
7,200
8,500
Other operating expenses
60,400
65,800
72,500
Total
$145,300
$168,500
$186,700
Other operating expenses include $4,300 of monthly depreciation
expense and $1,000 of monthly insurance...
Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash...
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 $25,000. The budgeted
expenses for the next three months are as follows:
January
February
March
Salaries
$57,500
$70,000
$77,500
Utilities
4,800
5,300
6,300
Other operating expenses
43,700
47,600
52,400
Total
$106,000
$122,900
$136,200
Other operating expenses include $3,200 of monthly depreciation
expense and $700 of monthly insurance...
Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash...
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 $27,900. The budgeted
expenses for the next three months are as follows:
January
February
March
Salaries
$64,200
$78,100
$86,500
Utilities
5,300
5,900
7,000
Other operating expenses
48,800
53,200
58,600
Total
$118,300
$137,200
$152,100
Other operating expenses include $3,500 of monthly depreciation
expense and $800 of monthly insurance...
Schedule of Cash Payments EastGate Physical Therapy Inc. is planning its cash payments for operations for...
Schedule of Cash Payments
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 $27,100. The budgeted
expenses for the next three months are as follows:
January
February
March
Salaries
$62,300
$75,900
$84,000
Utilities
5,100
5,700
6,800
Other operating expenses
47,300
51,600
56,800
Total
$114,700
$133,200
$147,600
Other operating expenses include $3,400 of monthly depreciation
expense and $800 of monthly insurance expense that was prepaid...
Schedule of Cash Payments EastGate Physical Therapy Inc. is planning its cash payments for operations for...
Schedule of Cash
Payments
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 $33,100. The budgeted expenses for the next three
months are as follows:
January
February
March
Salaries
$76,100
$92,700
$102,600
Utilities
6,300
7,000
8,300
Other operating expenses
57,800
63,000
69,400
Total
$140,200
$162,700
$180,300
Other operating
expenses include $4,200 of monthly depreciation expense and $900 of
monthly insurance expense that was prepaid...
eBook Calculator Print Item Schedule of Cash Payments EastGate Physical Therapy Inc. is planning its cash...
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Schedule of Cash Payments
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 $26,700. The budgeted
expenses for the next three months are as follows:
January
February
March
Salaries
$61,400
$74,800
$82,800
Utilities
5,100
5,600
6,700
Other operating expenses
46,700
50,900
56,000
Total
$113,200
$131,300
$145,500
Other operating expenses include $3,400 of monthly depreciation
expense and $800 of monthly insurance...
Schedule of Cash Payments Select Physical Therapy Inc. is planning its cash payments for operations for...
Schedule of Cash Payments
Select Physical Therapy Inc. is planning its cash payments for
operations for the third quarter (July–September), 2017. The
Accrued Expenses Payable balance on July 1 is $28,700. The budgeted
expenses for the next three months are as follows:
July
August
September
Salaries
$66,000
$80,400
$89,000
Utilities
5,500
6,000
7,200
Other operating expenses
50,200
54,700
60,200
Total
$121,700
$141,100
$156,400
Other operating expenses include $3,600 of monthly depreciation
expense and $800 of monthly insurance expense that was...
Schedule of Cash Payments Select Physical Therapy Inc. is planning its cash payments for operations for...
Schedule of Cash Payments
Select Physical Therapy Inc. is planning its cash payments for
operations for the third quarter (July–September), 2017. The
Accrued Expenses Payable balance on July 1 is $34,300. The budgeted
expenses for the next three months are as follows:
July
August
September
Salaries
$78,900
$96,000
$106,300
Utilities
6,500
7,200
8,600
Other operating expenses
60,000
65,400
72,000
Total
$145,400
$168,600
$186,900
Other operating expenses include $4,300 of monthly depreciation
expense and $1,000 of monthly insurance expense that was...
EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January–March)....
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 $32,000. The budgeted
expenses for the next three months are as follows:
January
February
March
Salaries
$73,600
$89,600
$99,200
Utilities
6,100
6,700
8,000
Other operating expenses
55,900
60,900
67,100
Total
$135,600
$157,200
$174,300
Other operating expenses include $4,000 of monthly depreciation
expense and $900 of monthly insurance expense that was prepaid for
the year on...
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
$82,900
April
76,300
May
69,400
Depreciation, insurance, and property taxes represent $17,000 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...
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