Dobson company expects to begin operating on january 1. the company's master budget contained the following operating expense budget: january february march salary expenses $ 40,000 $ 36,000 $ 36,000 sales commissions, 5% of sales 24,000 30,000 28,000 utilities 2,800 2,800 2,800 depreciation on store equipment 1,800 1,800 1,800 rent 7,200 7,200 7,200 miscellaneous 1,800 1,800 1,800 total operating expenses $ 77,600 $ 79,600 $ 77,600
sales commissions are paid in cash in the month following the month in which the expense is recognized. all other expense items requiring cash payment are paid in the month in which they are recognized. the amount of cash to be paid for operating expenses during the month of january is:

Jordan, inc. sells fireworks. the company’s marketing director developed the following cost of goods sold budget for april, may, june, and july. april may june july budgeted cost of goods sold $62,000 $72,000 $82,000 $88,000 jordan had a beginning inventory balance of $3,000 on april 1 and a beginning balance in accounts payable of $14,600. the company desires to maintain an ending inventory balance equal to 15 percent of the next period’s cost of goods sold. jordan makes all purchases on account. the company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase. required prepare an inventory purchases budget for april, may, and june. determine the amount of ending inventory jordan will report on the end-of-quarter pro forma balance sheet. prepare a schedule of cash payments for inventory for april, may, and june. determine the balance in accounts payable jordan will report on the end-of-quarter pro forma balance sheet.

Comprehensive illustrative problem: mira's store on february 1 20a4 mica delaman opened astore that sells school supplies her main customer are the students and teachers of happy students school that is situated in front of her store. mira wanted to know the financial position of mira's store. mira knew you were studying accounting. so she asked for . 1. to start her business mira's opened a checking account in the name of mira's store . the statement of account from the bank shows that the checking account has a balance of 31,535 of december 31,20a4

Which feature is a characteristic of a corporation?