Homework Help is Here – Start Your Trial Now!
Business
Accounting
Zisk Company purchases direct materials on credit. Budgeted purchases are April, $85,000; May, $116,000; and June, $126,000. Cash payments for purchases are: 70% in the month of purchase and 30% In the first month after purchase. Purchases for March are $76,000 Prepare a schedule of cash payments for direct materials for April, May, and June. ZISK COMPANY Schedule of Cash Payments for Direct Materials April May Materials purchases Cash payments for Current period purchases Prior period purchases Total cash payments $ $ S 88,000 $ 116,000 $ 80.200 S 81,200 $ 25,800 34,800 86.000 $ 116.000 $ June 126.000 88.200 37,800 120.000

Zisk Company purchases direct materials on credit. Budgeted purchases are April, $85,000; May, $116,000; and June, $126,000. Cash payments for purchases are: 70% in the month of purchase and 30% In the first month after purchase. Purchases for March are $76,000 Prepare a schedule of cash payments for direct materials for April, May, and June. ZISK COMPANY Schedule of Cash Payments for Direct Materials April May Materials purchases Cash payments for Current period purchases Prior period purchases Total cash payments $ $ S 88,000 $ 116,000 $ 80.200 S 81,200 $ 25,800 34,800 86.000 $ 116.000 $ June 126.000 88.200 37,800 120.000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
please answer do not image format
Exercise 20-19 (Algo) Schedule of cash payments LO P2 Zisk Company purchases direct materials on credit. Budgeted purchases are April, $85,000; May, $116,000; and June, $126,000. Cash payments for purchases are: 70% in the month of purchase and 30% In the first month after purchase. Purchases for March are $76,000 Prepare a schedule of cash payments for direct materials for April, May, and June. ZISK COMPANY Schedule of Cash Payments for Direct Materials April May Materials purchases Cash payments for Current period purchases Prior period purchases Total cash payments $ $ S 88,000 $ 80.200 S 25,800 86.000 S 116.000 S 81,200 $ 34,800 116.000 S June 128,000 88.200 37,800 120.000
Transcribed Image Text:Exercise 20-19 (Algo) Schedule of cash payments LO P2 Zisk Company purchases direct materials on credit. Budgeted purchases are April, $85,000; May, $116,000; and June, $126,000. Cash payments for purchases are: 70% in the month of purchase and 30% In the first month after purchase. Purchases for March are $76,000 Prepare a schedule of cash payments for direct materials for April, May, and June. ZISK COMPANY Schedule of Cash Payments for Direct Materials April May Materials purchases Cash payments for Current period purchases Prior period purchases Total cash payments $ $ S 88,000 $ 80.200 S 25,800 86.000 S 116.000 S 81,200 $ 34,800 116.000 S June 128,000 88.200 37,800 120.000
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS