Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January–March). The Accrued Expenses Payable balance on January 1 is $15,000. The budgeted expenses for the next three months are as follows: January February March Salaries $56,900 $ 68,100 $ 72,200 Utilities 2,400 2,600 2,500 Other operating expenses 32,300 41,500 44,700 Total $91,600 $112
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
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I only need the Unpaid Expenses x Percent to Pay help. Thank you.
Schedule of Cash Payments for a Service Company
EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January–March). The Accrued Expenses Payable balance on January 1 is $15,000. The budgeted expenses for the next three months are as follows:
January | February | March | ||||
Salaries | $56,900 | $ 68,100 | $ 72,200 | |||
Utilities | 2,400 | 2,600 | 2,500 | |||
Other operating expenses | 32,300 | 41,500 | 44,700 | |||
Total | $91,600 | $112,200 | $119,400 |
Other operating expenses include $3,000 of monthly depreciation expense and $500 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 70% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December.
Prepare a schedule of cash payments for operations for January, February, and March.
EastGate Physical Therapy Inc. | |||
Schedule of Cash Payments for Operations | |||
For the Three Months Ending March 31 | |||
January | February | March | |
$fill in the blank 2 | $fill in the blank 3 | $fill in the blank 4 | |
fill in the blank 6 | fill in the blank 7 | fill in the blank 8 | |
Total cash payments | $fill in the blank 9 | $fill in the blank 10 | $fill in the blank 11 |
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EASTGATE PHYSICAL THERAPY INC.
Schedule of Cash Payments for Operations
For the Three Months Ending March 31
January
February
March
Budgeted expenses
117.000
136,400
150,200
Percent
Payment of prior month's expense
Unpaid
Expenses
to Pay
Pay in January
15,000
Pay in February
26,430
Pay in March
32,610
Payment of current month's expense
Pay in January
Pay in February
61.670
76,090
Pay in March
81.130
Total payment
76,670
iS.
102.520
113 740](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0b6a8717-7b72-425b-9fdb-0d85203c2410%2F2531206e-911d-49e2-a530-242a07d39614%2Fbqbkzcc_processed.jpeg&w=3840&q=75)
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