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

Ask Question & Get Answers from Experts
Browse some more (Accounting Basics) Materials
What do you believe to be the key differences in CPCC's results between: PRC GAAP and IFRS? IFRS and U.S. GAAP? How about readers from the United States? Explain why or why no
High Sounds manufactures wind chimes that have a standard material cost of 2 pounds of raw materials at $1.50 per pound. During March, 10,000 pounds of raw materials costing
Kellogg Company is the world's leading producer of ready-to-eat cereal products. In recent years the company has taken numerous steps aimed at improving its profitability and
Dain Company acquires the land and building owned by Corrs Company. What types of costs may be incurred to make the asset ready for its intended use if Dain Company wants to u
But the first month using the department shows that my costs are up more than 20 percent." Don Thompson, the general manager of the Delta Division of  Ramo Products, had jus
Statewide Development Corporation has built a very large apartment complex in Gainesville, Florida. As part of the student-oriented marketing strategy that has been develope
Determine the cost of head lamps that would appear in each of the following accounts at September 30, 2011: Raw Materials, Work in Process, Finished Goods, Cost of Goods Sol
ACT501 -Accounting Principles Assignment. Prepare Smith Catering Service's income statement and statement of changes in equity for the month ended 31 July 2016, and the class