Do not give answer in image Budgeted S&A ExpensesSalary ExpenseSales Commissions 5% of SalesInsurance ExpenseRentDepreciation on equipmentUtilitiesTotal Operating ExpensesSchedule of Cash Payments for S&AExpensesOctober November December50,000 50,500 51,00025,000 25,50022,000 22,00026,40026,40031,50031,5003,1003,300158,000 159,200Salary Expense100% of Prior Month Sales Commissions 25,100Insurance Expense22,000Rent100% of Prior Months Utilities ExpenseTotal Payments for S&A Expenses?3,200?50,500?22,000???25,30022,00026,40031,5003,500159,70022,00026,400?What is the amount of sales commissions payable that the company will report on its pro forma balance sheet at the end of thefourth quarter?

In accounting, budgeting refers to the process of creating a financial plan for a specific period,…

Budgeted S&A Expenses Salary Expense Sales Commissions 5% of Sales Insurance Expense Rent Depreciation on equipment Utilities October November December 50,000 50,500 51,000 25,000 25,500 25,300 22,000 22,000 22,000 26,400 26,400 26,400 31,500 31,500 31,500 3,100 3,300 3,500 158,000 159,200 159,700 Total Operating Expenses Schedule of Cash Payments for S&A Expenses Salary Expense 100% of Prior Month Sales Commissions 25,100 Insurance Expense 22,000 Rent 100% of Prior Months Utilities Expense Total Payments for S&A Expenses > 3,200 ? 50,500 22,000 ? ? ? ? 22,000 26,400 What is the amount of sales commissions payable that the company will report on its pro forma balance sheet at the end of the fourth quarter?

Budgeted S&A Expenses Salary Expense Sales Commissions 5% of Sales Insurance Expense Rent Depreciation on equipment Utilities October November December 50,000 50,500 51,000 25,000 25,500 25,300 22,000 22,000 22,000 26,400 26,400 26,400 31,500 31,500 31,500 3,100 3,300 3,500 158,000 159,200 159,700 Total Operating Expenses Schedule of Cash Payments for S&A Expenses Salary Expense 100% of Prior Month Sales Commissions 25,100 Insurance Expense 22,000 Rent 100% of Prior Months Utilities Expense Total Payments for S&A Expenses > 3,200 ? 50,500 22,000 ? ? ? ? 22,000 26,400 What is the amount of sales commissions payable that the company will report on its pro forma balance sheet at the end of the fourth quarter?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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