Ivanhoe 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 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 costs, including $2,080 depreciation: 1st quarter 2nd quarter Purchase of equipment (2nd quarter) Sale of equipment (1st quarter) Collections from clients: 1st quarter 2nd quarter $31,200 26,000 4,160 145,600 145,600 7,280 80,080 104,000 52,000 72,800 52,000 12,480 244,400 395,200

Ivanhoe 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 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 costs, including $2,080 depreciation: 1st quarter 2nd quarter Purchase of equipment (2nd quarter) Sale of equipment (1st quarter) Collections from clients: 1st quarter 2nd quarter $31,200 26,000 4,160 145,600 145,600 7,280 80,080 104,000 52,000 72,800 52,000 12,480 244,400 395,200

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter15: Working Capital Management

Section: Chapter Questions

Problem 10P: CASH BUDGETING Helen Bowers, owner of Helens Fashion Designs, is planning to request a line of...

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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 $30,900 Required minimum cash balance 25,750 Payment of income taxes (2nd quarter) 4,120 Professional salaries: 1st quarter 144,200 2nd quarter 144,200 Interest from investments (2nd quarter) 7,210 Overhead costs: 1st quarter 79,310 2nd quarter 103,000 Selling and administrative costs, including $2,060 depreciation: 1st quarter 51,500 2nd quarter 72,100 Purchase of equipment (2nd quarter) 51,500 Sale of equipment (1st quarter) 12,360 Collections from clients: 1st quarter 242,050 2nd quarter 391,400 Interest payments…
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