Prepare a schedule of cash payments for operations

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Reference no: EM131761826

Question: 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 $33,300. The budgeted expenses for the next three months are as follows:

	July	August	September
Salaries	$76,600	$93,200	$103,200
Utilities	6,300	7,000	8,300
Other operating expenses	58,200	63,400	69,800
Total	$141,100	$163,600	$181,300

Other operating expenses include $4,200 of monthly depreciation expense and $900 of monthly insurance expense that was prepaid for the year on March 1 of the current 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 July 1 relates to the expenses incurred in June.

Prepare a schedule of cash payments for operations for July, August, and September.

Select Physical Therapy Inc.
Schedule of Cash Payments for Operations
For the Three Months Ending September 30, 2017
	July	August	September
Payments of prior month's expense	$	$	$
Payments of current month's expense
Total payment	$	$	$

Reference no: EM131761826

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