Prepare a cash budget for each of the first two quarters

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Reference no: EM133342246

Caes: David Pens eye Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the budget for the first two quarters of 2022. It still needs to do only the cash budget. It has collected the following information from parts of the master budget and elsewhere:

Beginning cash balance $ 29,900
Required minimum cash balance 20,000
Payment of income taxes (2nd quarter) 4,100
Professional salaries:
1st quarter 140,200
2nd quarter 140,200
Interest from investments (2nd quarter) 7,000
Overhead costs:
1st quarter 94,400
2nd quarter 120,100
Selling and administrative expenses, including
$3,000 depreciation:
1st quarter 50,000
2nd quarter 69,500
Purchase of equipment (2nd quarter) 49,800
Sale of equipment (1st quarter) 12,000
Collections from clients:
1st quarter 244,500
2nd quarter 391,000
Interest on repayments (2nd quarter)
304

Prepare a cash budget for each of the first two quarters of 2022.

Reference no: EM133342246

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