Question

In: Accounting

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

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 $33,030
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 (2nd quarter) 7,707
Overhead costs:
    1st quarter 84,777
    2nd quarter 110,100
Selling and administrative costs, including
$2,202 depreciation:
    1st quarter 55,050
    2nd quarter 77,070
Purchase of equipment (2nd quarter) 55,050
Sale of equipment (1st quarter) 13,212
Collections from clients:
    1st quarter 258,735
    2nd quarter 418,380
Interest payments (2nd quarter) 220


Prepare a cash budget for each of the first two quarters of 2017.

Solutions

Expert Solution

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

Pletcher Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is...
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 $32,400 Required minimum cash balance 27,000 Payment of income taxes (2nd quarter) 4,320 Professional salaries:     1st quarter 151,200     2nd quarter 151,200 Interest from investments...
Pletcher Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is...
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 $30,600 Required minimum cash balance 25,500 Payment of income taxes (2nd quarter) 4,080 Professional salaries:     1st quarter 142,800     2nd quarter 142,800 Interest from investments...
Pletcher Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is...
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 $38,220 Required minimum cash balance 31,850 Payment of income taxes (2nd quarter) 5,096 Professional salaries:     1st quarter 178,360     2nd quarter 178,360 Interest from investments...
Exercise 21-19 Pletcher Dental Clinic is a medium-sized dental service specializing in family dental care. The...
Exercise 21-19 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 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...
Glenn Dental Clinic provides general dental care to residents of Philadelphia on a walk-In basis.
Glenn Dental Clinic provides general dental care to residents of Philadelphia on a walk-In basis. The clinic has started receiving complaints from patients that the waiting time is too long and has asked you to Investigate whether this problem can be solved.Upon arrival, customers receive a form from the receptionist and fill out relevant information such as personal health records and Insurance provider. The form is then handed back to the receptionist who enters the Information Into the computer system...
Blossom Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has...
Blossom Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has long dominated the market, at one time achieving a 70% market penetration. During prosperous years, the company’s profits, coupled with a conservative dividend policy, resulted in funds available for outside investment. Over the years, Blossom has had a policy of investing idle cash in equity securities. In particular, Blossom has made periodic investments in the company’s principal supplier, Norton Industries. Although the firm currently...
Vaughn Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has...
Vaughn Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has long dominated the market, at one time achieving a 70% market penetration. During prosperous years, the company’s profits, coupled with a conservative dividend policy, resulted in funds available for outside investment. Over the years, Vaughn has had a policy of investing idle cash in equity securities. In particular, Vaughn has made periodic investments in the company’s principal supplier, Norton Industries. Although the firm currently...
Blossom Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has...
Blossom Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has long dominated the market, at one time achieving a 70% market penetration. During prosperous years, the company’s profits, coupled with a conservative dividend policy, resulted in funds available for outside investment. Over the years, Blossom has had a policy of investing idle cash in equity securities. In particular, Blossom has made periodic investments in the company’s principal supplier, Norton Industries. Although the firm currently...
Pharoah Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has...
Pharoah Corp. is a medium-sized corporation specializing in quarrying stone for building construction. The company has long dominated the market, at one time achieving a 70% market penetration. During prosperous years, the company’s profits, coupled with a conservative dividend policy, resulted in funds available for outside investment. Over the years, Pharoah has had a policy of investing idle cash in equity securities. In particular, Pharoah has made periodic investments in the company’s principal supplier, Norton Industries. Although the firm currently...
P17-8B (Fair Value and Equity Methods) Rodeo Corp. is a medium-sized corporation specializing in constructing high...
P17-8B (Fair Value and Equity Methods) Rodeo Corp. is a medium-sized corporation specializing in constructing high end retail establishments. The company has long dominated the market on the west coast, at one time achieving a 60% market penetration. During prosperous years, the company’s profits, coupled with a conservative dividend policy, resulted in funds available for outside investment. Over the years, Rodeo has had a policy of investing idle cash in equity securities. In particular, Rodeo has made periodic investments in...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT