Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. pletcher dental clinic is a medium-sized dental se

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

90.2K

Verified Solution

Question

Accounting

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 2017. 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 $41,460
Required minimum cash balance 34,550
Payment of income taxes (2nd quarter) 5,528
Professional salaries:
1st quarter 193,480
2nd quarter 193,480
Interest from investments (2nd quarter) 9,674
Overhead costs:
1st quarter 106,414
2nd quarter 138,200
Selling and administrative costs, including
$2,764 depreciation:
1st quarter 69,100
2nd quarter 96,740
Purchase of equipment (2nd quarter) 69,100
Sale of equipment (1st quarter) 16,584
Collections from clients:
1st quarter 324,770
2nd quarter 525,160
Interest payments (2nd quarter) 276

Prepare a cash budget for each of the first two quarters of 2017. (Do not leave any answer field blank. Enter 0 for amounts.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Geometry
1.2K views

ADEF AJKL DE 28 EF 23 DF 9x 43 JL 11 JK 3y 11 and...

Biology
1.2K views

Describe the four stages of the normal bacterial growth curve and explain the growth patterns of...

Statistics
1.2K views

In the late summer of 2008, a brief war broke out between the two countries—Russia and...

General Management
1.2K views

think about a time at your job when a specific major decision was made. Were you...

Physics
1.2K views

4 Find the equivalent capacitance between point a and b in the following arrangement of...

Physics
1.2K views

Two charges 9 and 92 are located at 9 0 and 9 0 in the...

Basic Math
1.2K views

125 8x Use the following factorization formulas involving cubes to factor the expression Factorizations with...

Basic Math
1.2K views

Consider these functions: f(x) = 5x +2 g(x)=x-1 What is the value of g(f(-1))? A....

Accounting
1.2K views

Jack is a CPA bound by the AICPA's ethical standards, "Statements on Standards for Tax...

Accounting
1.2K views

Given the acquisition cost of product Z is $36, the net realizable value for product...

Accounting
1.2K views

1. Find cost of capital for a company of your choice. Steps involved: Determine equity...

Accounting
1.2K views

The following is the unadjusted trial balance for Rainbow Lodge Ltd. at its year end,...