Pletcher Dental Clinic is a medium-sizerst 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 | $35,100 | |
Required minimum cash balance | 29,250 | |
Payment of income taxes (2nd quarter) | 4,680 | |
Professiona |
Prepare a cash budget for each of the first two quarters of
2020.
Answer-
Pletcher Dental Clinic | ||
Cash Budget | ||
Particulars | 1st Quarter | 2nd Quarter |
$ | $ | |
Beginning cash balance (A) | 35100 | 29250 |
Add- Budgeted cash receipts | ||
Collection from clients | 274950 | 444600 |
Interest from investments | 0 | 8190 |
Sale of equipment | 14040 | 0 |
Total cash available for use (B) | 324090 | 482040 |
Less- Cash Payments | ||
Payment of income taxes | 0 | 4680 |
Professional salaries | 163800 | 163800 |
Overhead costs | 90090 | 117000 |
Selling & Administrative costs excluding depreciation | 56160 | 79560 |
Purchase of equipment | 0 | 58500 |
Interest payments | 0 | 234 |
Total cash payments (C) | 310050 | 423774 |
Cash surplus/ (Deficit) (D=A+B-C) | 14040 | 58266 |
Financing:- | ||
Add-Borrowings | 15210 | 0 |
Less-Repayments | 0 | -15210 |
Budgeted ending cash balance | 29250 | 43056 |
Pletcher Dental Clinic is a medium-sizerst 2 quarters of 2020. All that remains in this process...
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 $38,190 Required minimum cash balance 31,825 Payment of income taxes (2nd quarter) 5,092 Professional salaries: 1st quarter 178,220 2nd quarter 178,220 Interest from investments...
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 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 $36,900 Required minimum cash balance 30,750 Payment of income taxes (2nd quarter) 4,920 Professional salaries: 1st quarter 172,200 2nd quarter 172,200 Interest from investments...
Exercise 9-19 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 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 $33,000 Required minimum cash balance 27,500 4,400 Payment of income taxes (2nd quarter) Professional salaries: 1st quarter 154,000 2nd quarter 154,000 Interest...
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. $33,030 Beginning cash balance Required minimum cash balance 27,525 Payment of income taxes (2nd quarter) 4,404 Professional salaries: 1st quarter 154,140 2nd quarter 154,140 Interest from investments...
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. $32,310 26,925 4,308 150,780 150,780 7,539 82,929 107,700 Beginning cash balance Required minimum cash balance Payment of income taxes (2nd quarter) Professional salaries: 1st quarter 2nd quarter...
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 $39,180 Required minimum cash balance 32,650 Payment of income taxes (2nd quarter) 5,224 Professional salaries: 1st quarter 182,840 2nd quarter 182,840 Interest from investments...
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. $38,340 31,950 5,112 178,920 178,920 8,946 98,406 127,800 Beginning cash balance Required minimum cash balance Payment of income taxes (2nd quarter) Professional salaries: 1st quarter 2nd quarter...
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. $38,340 31,950 5,112 178,920 178,920 8,946 98,406 127,800 Beginning cash balance Required minimum cash balance Payment of income taxes (2nd quarter) Professional salaries: 1st quarter 2nd quarter...
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. $34,260 28,550 4,568 159,880 159,880 7,994 87,934 114,200 Beginning cash balance Required minimum cash balance Payment of income taxes (2nd quarter) Professional salaries: 1st quarter 2nd quarter...
Exercise 9-19 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 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 $37,200 Required minimum cash balance 31,000 Payment of income taxes (2nd quarter) 4,960 Professional salaries: 1st quarter 173,600 2nd quarter 173,600 Interest...