Pisani Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently

Question:

Pisani Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the budget for the first two quarters of 2012. It still needs to do only the It has collected the following information from parts of the master budget and elsewhere:
Beginning cash balance ....................................................... $ 30,000
Required minimum cash balance ............................................. 20,000
Payment of income taxes (2nd quarter) ....................................... 4,000
Professional salaries:
1st quarter ...................................................................... 140,000
2nd quarter ..................................................................... 140,000
Interest from investments (2nd quarter) ....................................... 7,000
Overhead costs:
1st quarter ......................................................................... 95,000
2nd quarter ....................................................................... 120,000
Selling and administrative costs, including $3,000 of depreciation:
1st quarter ........................................................................... 50,000
2nd quarter .......................................................................... 70,000
Purchase of equipment (2nd quarter) ............................................ 50,000
Sale of equipment (1st quarter) ................................................... 12,000
Collections from clients:
1st quarter ............................................................................. 245,000
2nd quarter ........................................................................... 390,000
Interest on repayments (2nd quarter) .................................................. 300
Instructions
Prepare a for each of the first two quarters of 2012?
Cash Budget
A cash budget is an estimation of the cash flows for a business over a specific period of time. These cash inflows and outflows include revenues collected, expenses paid, and loans receipts and payment. Its primary purpose is to provide the...