Depreciation insurance and property taxes represent 37000

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Reference no: EM13577552

Excel Learning Systems Inc. was organized on September 30, 2014. Projected selling and administrative expenses for each of the first three months of operations are as follows:

October	$174,800
November	160,800
December	146,300

Depreciation, insurance, and property taxes represent $37,000 of the estimated monthly expenses. The annual insurance premium was paid on September 30, and property taxes for the year will be paid in June. The company expects that 74% of the remainder of the expenses will be paid in the month in which they are incurred, with the balance to be paid in the following month.

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Prepare a schedule indicating cash payments for selling and administrative expenses for October, November, and December.

Excel Learning Systems Inc.

Schedule of Cash Payments for Selling and Administrative Expenses

For the Three Months Ending December 31, 2014

October

November

December

October expenses:

Paid in October

Paid in November

November expenses:

Paid in November

Paid in December

December expenses:

Paid in December

Total cash payments

Reference no: EM13577552

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