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 2022. Only the cash budget remains to be done. It has collected the following information from parts of the master budget and elsewhere:
Instructions
Prepare a cash budget for each of the first two quarters of 2022.
Transcribed Image Text:
Beginning cash balance Required minimum cash balance Payment of income taxes (2nd quarter) Professional salaries: 1st quarter 2nd quarter Interest from investments (2nd quarter) Overhead costs: 1st quarter 2nd quarter Selling and administrative expenses, including $3,000 of depreciation: 1st quarter 2nd quarter Purchase of equipment (2nd quarter) Sale of equipment (1st quarter) Collections from clients: 1st quarter 2nd quarter Interest on repayments (2nd quarter) $ 30,000 20,000 4,000 140,000 140,000 7,000 95,000 120,000 50,000 70,000 50,000 12,000 245,000 390,000 300
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Beginning cash balance Add Cash receipts Collections from clients Interest from investme...View the full answer
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Related Book For
Managerial Accounting Tools For Business Decision Making
ISBN: 9781119731825
6th Canadian Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Ibrahim M. Aly, Donald E. Kieso
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