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Question 18 Pletcher Dental Clinic is a medium-sized dental service specializing in family dental care....

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Accounting

Question 18

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 $40,800
Required minimum cash balance 34,000
Payment of income taxes (2nd quarter) 5,440
Professional salaries:
1st quarter 190,400
2nd quarter 190,400
Interest from investments (2nd quarter) 9,520
Overhead costs:
1st quarter 104,720
2nd quarter 136,000
Selling and administrative costs, including
$2,720 depreciation:
1st quarter 68,000
2nd quarter 95,200
Purchase of equipment (2nd quarter) 68,000
Sale of equipment (1st quarter) 16,320
Collections from clients:
1st quarter 319,600
2nd quarter 516,800
Interest payments (2nd quarter) 272

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

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PLETCHER DENTAL CLINIC Cash Budget 1st Quarter 2nd Quarter

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