Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. schedule of cash payments eastgate physical therap

Schedule of Cash Payments EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter...

60.1K

Verified Solution

Question

Accounting

Schedule of CashPayments

EastGate PhysicalTherapy Inc. is planning its cash payments for operations for thefirst quarter (January–March). The Accrued Expenses Payable balanceon January 1 is $33,100. The budgeted expenses for the next threemonths are as follows:

JanuaryFebruaryMarch
Salaries$76,100$92,700$102,600
Utilities6,3007,0008,300
Other operating expenses57,80063,00069,400
Total$140,200$162,700$180,300

Other operatingexpenses include $4,200 of monthly depreciation expense and $900 ofmonthly insurance expense that was prepaid for the year on May 1 ofthe previous year. Of the remaining expenses, 65% are paid in themonth in which they are incurred, with the remainder paid in thefollowing month. The Accrued Expenses Payable balance on January 1relates to the expenses incurred in December.

Prepare a schedule ofcash payments for operations for January, February, and March.

EastGate Physical Therapy Inc.
Schedule of Cash Payments for Operations
For the Three Months Ending March 30
JanuaryFebruaryMarch
Payments of priormonth's expense$$$
Payments of currentmonth's expense
Total payments$$$

Answer & Explanation Solved by verified expert
4.0 Ratings (505 Votes)
    See Answer
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

Physics
1.2K views

Two point charges Q Q are fixed at x 0 and x a Assuming that...

Calculus
1.2K views

f 2 3y da 3x 2 dy ere C is the boundary traversed once anticlockwise...

Calculus
1.2K views

Let g x x 1 The absolute minimum value of g over the closed interval...

Calculus
1.2K views

For which value of x does the function f x x 2 x 3 have...

Algebra
1.2K views

4 Solve the equation by completing the square More than one answer may be correct...

Accounting
1.2K views

Wildhorse Co. acumula los siguientes costos y datos de mercado al 31 de diciembre. Categoras...

Accounting
1.2K views

Journalize the following business transactions in general journal form. Identify each transaction by number. You...

Accounting
1.2K views

1. IAS 36 "Impairment of Assets" includes: v Key definitions of the standard v...

Accounting
1.2K views

Denber Co. acquired 60% of the common stock of Kailey Corp. on September 1, 2019....

Accounting
1.2K views

A company pays $813,200 cash to acquire an iron mine on January 1. At that...

Finance
1.2K views

You are invested 26% in growth stocks with a beta of 1.8, 26% in value...

Accounting
1.2K views

MAKE THE NECCESSARY JOURNAL ENTRIES.... BALIM Company is a merchandising company and tradindg OFFICE SUPPLIES...