Exercise 22-19 (Algo) Schedule of cash payments LO P2 Zisk Company purchases direct materials on credit. Budgeted purchases are April, $99,000; May, $129,000; and June, $139,000. Cash payments for purchases are: 70% in the month of purchase and 30% in the first month after purchase. Purchases for March are $89,000. 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 $ 99,000 $ Materials purchases Cash payments for: Current period purchases Prior period purchases Total cash payments 129,000 $ June 139,000

Exercise 22-19 (Algo) Schedule of cash payments LO P2 Zisk Company purchases direct materials on credit. Budgeted purchases are April, $99,000; May, $129,000; and June, $139,000. Cash payments for purchases are: 70% in the month of purchase and 30% in the first month after purchase. Purchases for March are $89,000. 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 $ 99,000 $ Materials purchases Cash payments for: Current period purchases Prior period purchases Total cash payments 129,000 $ June 139,000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 12EA: Desiccate purchases direct materials each month. Its payment history shows that 70% is paid in the...

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