Concord 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 2022. 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 cost 1st quarter 2nd quarter Selling and administrative costs, including $2,240 depreciation: 1st quarter 2nd quarter Purchase of equipment (2nd quarter) Sale of equipment (1st quarter) $33,600 28,000 4,480 156,800 156,800 7,840 86,240 112,000 56,000 78,400 56,000 13,440

Concord 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 2022. 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 cost 1st quarter 2nd quarter Selling and administrative costs, including $2,240 depreciation: 1st quarter 2nd quarter Purchase of equipment (2nd quarter) Sale of equipment (1st quarter) $33,600 28,000 4,480 156,800 156,800 7,840 86,240 112,000 56,000 78,400 56,000 13,440

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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