Schedule of Cash Payments Tadpole Learning Systems Inc. was organized on Februar

Question

Schedule of Cash Payments

Tadpole Learning Systems Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows:

Depreciation, insurance, and property taxes represent $37,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in November. 58% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month.

Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May. Enter all amounts as positive numbers.

Explanation / Answer

Schedule of cash payment fr selling and admin expense march April May March expense (171300-37000) Paid in march 77894 Paid in April 56406 April expense (161000-37000) Paid in April 71920 Paid in May 52080 May Expense (146500-37000) Paid in May 63510 Total Cash payment 77894 128326 115590

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