Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. finch company began its operations on march 31 of

Finch Company began its operations on March 31 of the current year. Finch has the...

50.1K

Verified Solution

Question

Accounting

image

Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manufacturing costs (1) $197,900 830 Insurance expense (2) $156,800 830 2,020 420 $219,000 830 2,020 420| Depreciation expense 2,020 420 Property tax expense (3) (1) Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. (2) Insurance expense is $830 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October). (3) Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of April are a. $138,445 b. $117,600 c. $156,800 Od. $120,090

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students