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 $31,500. The budgeted expenses for the next three months are as follows: January $72,500 6,000 55,100 $133,600 Salaries Utilities Other operating expenses Total February $88,200 6,600 60,100 $154,900 March $97,700 7,900 66,100 $171,700 Other operating expenses include $4,000 of monthly depreciation expense and $900 of monthly insurance expense that was prepaid for the year on May 1 of the previous yea 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. Enter all amounts as positive numbers. EastGate Physical Therapy Inc. Schedule of Cash Payments for Operations For the Three Months Ending March 31
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
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
![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
$31,500. The budgeted expenses for the next three months are as follows:
Salaries
Utilities
Other operating expenses
Total
Total cash payments
$
March
January
Other operating expenses include $4,000 of monthly depreciation expense and $900 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.
$
$72,500
6,000
55,100
$133,600
Prepare a schedule of cash payments for operations for January, February, and March. Enter all amounts as positive numbers.
EastGate Physical Therapy Inc.
Schedule of Cash Payments for Operations
For the Three Months Ending March 31
January February
$
February
$88,200
6,600
60,100
$154,900
March
$97,700
7,900
66,100
$171,700](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe8c5209d-f4ae-4bd5-962b-9d52a27a7cc8%2Faa2a5d79-4ff8-45eb-bf9c-374e82759e21%2Faaya2ql_processed.jpeg&w=3840&q=75)
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