Question

EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January–March)....

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 $29,500. The budgeted expenses for the next three months are as follows:

January February March
Salaries $67,900 $82,600 $91,500
Utilities 5,600 6,200 7,400
Other operating expenses 51,600 56,200 61,900
Total $125,100 $145,000 $160,800

Other operating expenses include $3,700 of monthly depreciation expense and $800 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 75% 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 30
January February March
Payments of prior month's expense $ $ $
Payments of current month's expense
Total payments $ $ $

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January–March)....
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 $31,200. The budgeted expenses for the next three months are as follows: January February March Salaries $71,800 $87,400 $96,700 Utilities 5,900 6,600 7,800 Other operating expenses 55,300 60,300 66,400 Total $133,000 $154,300 $170,900 Other operating expenses include $3,900 of monthly depreciation expense and $900 of monthly insurance expense that was prepaid for the year on...
EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January–March)....
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 $26,800. The budgeted expenses for the next three months are as follows: January February March Salaries $61,600 $75,000 $83,100 Utilities 5,100 5,600 6,700 Other operating expenses 46,800 51,000 56,200 Total $113,500 $131,600 $146,000 Other operating expenses include $3,400 of monthly depreciation expense and $800 of monthly insurance expense that was prepaid for the year on...
Schedule of Cash Payments EastGate Physical Therapy Inc. is planning its cash payments for operations for...
Schedule of Cash Payments 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 $29,300. The budgeted expenses for the next three months are as follows: January February March Salaries $67,400 $82,000 $90,800 Utilities 5,600 6,200 7,300 Other operating expenses 51,900 56,600 62,300 Total $124,900 $144,800 $160,400 Other operating expenses include $3,700 of monthly depreciation expense and $800 of monthly insurance expense that was prepaid...
Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash...
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 $34,400. The budgeted expenses for the next three months are as follows: January February March Salaries $79,100 $96,300 $106,600 Utilities 6,500 7,200 8,600 Other operating expenses 60,900 66,400 73,100 Total $146,500 $169,900 $188,300 Other operating expenses include $4,300 of monthly depreciation expense and $1,000 of monthly insurance...
Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash...
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 $26,700. The budgeted expenses for the next three months are as follows: January February March Salaries $61,400 $74,800 $82,800 Utilities 5,100 5,600 6,700 Other operating expenses 46,700 50,900 56,000 Total $113,200 $131,300 $145,500 Other operating expenses include $3,400 of monthly depreciation expense and $800 of monthly insurance...
Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash...
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 $26,200. The budgeted expenses for the next three months are as follows: January February March Salaries $60,300 $73,400 $81,200 Utilities 5,000 5,500 6,600 Other operating expenses 45,800 49,900 55,000 Total $111,100 $128,800 $142,800 Other operating expenses include $3,300 of monthly depreciation expense and $800 of monthly insurance...
Schedule of Cash Payments for a Service Company SafeMark Financial Inc. was organized on February 28....
Schedule of Cash Payments for a Service Company SafeMark Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $178,000 April 167,300 May 152,200 Depreciation, insurance, and property taxes represent $38,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 69% of the remainder of the expenses are expected...
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28....
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $117,900 April 112,000 May 101,900 Depreciation, insurance, and property taxes represent $25,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 67% of the remainder of the expenses are expected...
Schedule of Cash Payments for a Service Company Horizon Financial Inc. was organized on February 28....
Schedule of Cash Payments for a Service Company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $52,400 April 64,200 May 68,900 Depreciation, insurance, and property taxes represent $9,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. Seventy percent of the remainder of the expenses are...
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28....
Schedule of cash payments for a service company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $131,900 April 125,300 May 114,000 Depreciation, insurance, and property taxes represent $29,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 75% of the remainder of the expenses are expected...