Budgeted Selling and Administrative Expenses Salary Expense Sales Commissions 5% of Sales Insurance Expense Rent Depreciation on equipment Utilities Total Operating Expenses Schedule of Cash Payments for Selling and Administrative Expenses Salary Expense 100% of Prior Month Sales Commissions Insurance Expense Rent 100% of Prior Months Utilities Expense Total Payments for Selling and Administrative Expenses October 46,000 23,000 20,000 24,000 28,500 2,900 144,400 ? 23,100 20,000 ? 3,000 ? November 46,500 23,500 20,000 24,000 24,000 28,500 28,500 3,100 3,300 145,600 146,100 46,500 ? 20,000 December ? ? ? 47,000 23,300 20,000 ? ? 20,000 24,000 ? ? What is the total amount of Selling and Administrative expenses for the fourth quarter that the company will report on its pro forma income statement?

Budgeted Selling and Administrative Expenses Salary Expense Sales Commissions 5% of Sales Insurance Expense Rent Depreciation on equipment Utilities Total Operating Expenses Schedule of Cash Payments for Selling and Administrative Expenses Salary Expense 100% of Prior Month Sales Commissions Insurance Expense Rent 100% of Prior Months Utilities Expense Total Payments for Selling and Administrative Expenses October 46,000 23,000 20,000 24,000 28,500 2,900 144,400 ? 23,100 20,000 ? 3,000 ? November 46,500 23,500 20,000 24,000 24,000 28,500 28,500 3,100 3,300 145,600 146,100 46,500 ? 20,000 December ? ? ? 47,000 23,300 20,000 ? ? 20,000 24,000 ? ? What is the total amount of Selling and Administrative expenses for the fourth quarter that the company will report on its pro forma income statement?

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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Please do not give solution in image format thanku
Please do not give solution in image format thanku
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