+1-415-670-9189
info@expertsmind.com
Depreciation insurance and property taxes represent 9000 of
Course:- Accounting Basics
Reference No.:- EM13601514




Assignment Help
Assignment Help >> Accounting Basics

Sage learning systems inc. was organized on September 30, 2012. Projected selling and administrative expenses for each of the first three months of operations are as follows:

  • October $67,500
  • November 75,000
  • December 88,100

Depreciation, insurance, and property taxes represent $9,000 of the estimated monthly expenses. The annual insurance premium was paid on September 30, and the property taxes for the year will be paid in june. 60% of the remainder of the expenses are expected to be paid in the month in which they incurred, with the balance to be paid in the following month. Prepare a schedule indicating cash payments for selling and administrative expenses for October, November, December.




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Accounting Basics) Materials
A company uses straight-line depreciation for financial reporting purposes but an accelerated method for tax purposes. Is it acceptable to use different methods for the two
If the company allocates the cost of the setup mechanics based on the number of setups, the setup costs to be allocated to an order of 300,000 Nurturing Face Cream jar cover
Reflect on an ethical dilemma that you have faced in your career, or a recent accounting scandal in the news. Describe the situations surrounding the ethical dilemma and your
Compute the NAL for this transaction. Should Alamo lease or borrow and buy? Comment on the effects that a different loan rate and residual value would have on your answer abov
If you bought a $1,000 face value CD that matured in nine months, and which was advertised as paying 9% annual interest, compounded monthly, how much would you receive when
If a company follows a practice of isolating variances at the earliest point in time, what would be the appropriate time to isolate and recognize a direct material price var
Write a 700- to 1,050-word paper in APA format comparing and contrasting the different types of accounting, namely accrual, cash flow, and fund accounting. Be sure to consid
During 2010, Burlington Company incurred operating expenses amounting to $600,000, of which $550,000 was paid in cash; the balance will be paid in January 2011. On the 2010