October November December Budgeted Selling and Administrative Expenses Salary Expense 34,000 34,500 35,000 Sales Commissions, 5% of Sales 17,000 17,500 17,300 Insurance Expenses 14,000 14,000 14,000 Rent 16,800 16,800 16,800 Depreciation on Equipment 19,500 19,500 19,500 Utilities Total Selling and Administrative Expenses Schedule of Cash Payments for Selling and Administrative Expenses 2,300 2,500 103,600 104,800 2,700 105,300 Salary Expenses 100% of Prior Month Sales Commissions Insurance Expense Rent 100% of Prior Months Utilities Expenses Total Payments for Selling and Administrative Expenses ? 34,500 ? 17,100 ? ? 14,000 ? 14,000 14,000 ? 16,800 2,400 ? ? ? ? ? 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 Multiple Choice $35,000 О $17,500 $17300
October November December Budgeted Selling and Administrative Expenses Salary Expense 34,000 34,500 35,000 Sales Commissions, 5% of Sales 17,000 17,500 17,300 Insurance Expenses 14,000 14,000 14,000 Rent 16,800 16,800 16,800 Depreciation on Equipment 19,500 19,500 19,500 Utilities Total Selling and Administrative Expenses Schedule of Cash Payments for Selling and Administrative Expenses 2,300 2,500 103,600 104,800 2,700 105,300 Salary Expenses 100% of Prior Month Sales Commissions Insurance Expense Rent 100% of Prior Months Utilities Expenses Total Payments for Selling and Administrative Expenses ? 34,500 ? 17,100 ? ? 14,000 ? 14,000 14,000 ? 16,800 2,400 ? ? ? ? ? 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 Multiple Choice $35,000 О $17,500 $17300
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:October
November December
Budgeted Selling and Administrative Expenses
Salary Expense
34,000
34,500 35,000
Sales Commissions, 5% of Sales
17,000
17,500 17,300
Insurance Expenses
14,000
14,000 14,000
Rent
16,800
16,800 16,800
Depreciation on Equipment
19,500
19,500 19,500
Utilities
Total Selling and Administrative Expenses
Schedule of Cash Payments for Selling and Administrative
Expenses
2,300
2,500
103,600
104,800
2,700
105,300
Salary Expenses
100% of Prior Month Sales Commissions
Insurance Expense
Rent
100% of Prior Months Utilities Expenses
Total Payments for Selling and Administrative Expenses
?
34,500
?
17,100
?
?
14,000
?
14,000
14,000
?
16,800
2,400
?
?
?
?
?
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
Multiple Choice
$35,000
О
$17,500
$17300
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