Oriole Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Oriole Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first 2 quarters of 2020. All that remains in this process is the cash budget. The following information has been collected from other portions of the master budget and elsewhere. Beginning cash balance $31,500 Required minimum cash balance 26,250 Payment of income taxes (2nd quarter) 4,200 Professional salaries: 1st quarter 147,000 2nd quarter 147,000 Interest from investments (2nd quarter) 7,350 Overhead costs: 1st quarter 2nd quarter 80,850 105,000 Selling and administrative costs, including $2,100 depreciation: 1st quarter 52,500 2nd quarter 73,500 Purchase of equipment (2nd quarter) 52,500 Sale of equipment (1st quarter) 12,600 Collections from clients: 1st quarter 246,750 2nd quarter Interest payments (2nd quarter) 399,000 210 Prepare a cash budget for each of the first two quarters of 2020. ORIOLE DENTAL CLINIC Cash Budget $ 1st Quarter 2nd Quarte $ $ $ Oriole Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first 2 quarters of 2020. All that remains in this process is the cash budget. The following information has been collected from other portions of the master budget and elsewhere. Beginning cash balance $31,500 Required minimum cash balance 26,250 Payment of income taxes (2nd quarter) 4,200 Professional salaries: 1st quarter 147,000 2nd quarter 147,000 Interest from investments (2nd quarter) 7,350 Overhead costs: 1st quarter 2nd quarter 80,850 105,000 Selling and administrative costs, including $2,100 depreciation: 1st quarter 52,500 2nd quarter 73,500 Purchase of equipment (2nd quarter) 52,500 Sale of equipment (1st quarter) 12,600 Collections from clients: 1st quarter 246,750 2nd quarter Interest payments (2nd quarter) 399,000 210 Prepare a cash budget for each of the first two quarters of 2020. ORIOLE DENTAL CLINIC Cash Budget $ 1st Quarter 2nd Quarte $ $ $
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Fujita, Incorporated, has no debt outstanding and a total market value of $ 3 6 9 , 6 0 0 . Earnings before interest and taxes, EBIT, are projected to be $ 5 1 , 0 0 0 if economic conditions are...
-
Donnegal Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first 2 quarters of 2010. All that remains in...
-
Pletcher Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first 2 quarters of 2022. All that remains in...
-
Discuss how efficiency and effectiveness are used to aid in decision making within a healthcareorganization. Is one more important than the other? Describe the importance of financial information in...
-
Why were commercial banks prohibited from underwriting corporate securities within the United States but not abroad? How can a depository institution engage in underwriting corporate securities today?
-
Economists suggest that Australia may receive a larger share of the financial benefits from its agreement with China. Explain why China would still be willing to enter into an agreement under these...
-
Kemico Ltd manufactures a variety of chemicals which it supplies in bulk to industrial customers. Its factory at Gritborough employs 50 people, and its annual turnover in 1995 was 7.5M. During 1995,...
-
a. What documents / files would Victoria want to see before interviewing anyone? b. What other procedures from Chapter 9 (the evidence chapter), if any, should Victoria consider using to determine...
-
The condensed separate and consolidated balance sheets of Alpha Corporation and its subsidiary, Bita Company, on the date of their business combination, includes inventories of Alpha $150,000,...
-
23. Assume the user had entered an integer NUM and the integer power POWER to which he wants the number raised. WITHOUT using the POW function, write a WHILE loop and also a FOR loop to raise NUM to...
-
1. What is Perceptual Mapping? How does this concept help in the marketing of a new product? 2. Is Empathy Interview a market research tool for a new business project? How is it applied? Explain your...
-
manufactured at the Arizona site, an impairment test is deemed appropriate. Management has acquired the following information for the assets at the plant: Cost Accumulated depreciation General's...
-
Since the first quarter of the year 2022, the Energy Regulation Board (ERB) has been reviewing fuel pump prices on a monthly basis. This decision has received mixed reactions from the citizenry....
-
Sweet Pete's, a local bakery, is in need of your help. So far owner Pete has been keeping his books, stock, etc. in a manual ledger, but spilling a cup of coffee on it by accident made him realize he...
-
We normally assume that the yield to maturity must always be positive. A negative yield to maturity would imply that you are willing to pay more for a bond today than you will receive for it in the...
-
9. (6 points) Dividends Suppose a firm has a retention ratio of 75 percent, net income of $8 million, and 4 million shares outstanding. What would be the dividend per share paid out on the firm's...
-
In your readings, there were many examples given for nurturing close family relationships in this ever-evolving technological society we live in Based upon your readings and research describe three...
-
The Dorilane Company specializes in producing a set of wood patio furniture consisting of a table and four chairs. The set enjoys great popularity, and the company has ample orders to keep production...
-
Staci Valek began dabbling in pottery several years ago as a hobby. Her work is quite creative, and it has been so popular with friends and others that she has decided to quit her job with an...
-
Swift Company was organized on March 1 of the current year. After five months of start-up losses, management had expected to earn a profit during August. Management was disappointed, however, when...
Study smarter with the SolutionInn App