Lager 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 2012. 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 |
$ 33,930 |
|
Required minimum cash balance |
28,275 |
|
Payment of income taxes (2nd quarter) |
4,524 |
|
Professional salaries: |
|
|
1st quarter |
158,340 |
|
2nd quarter |
158,340 |
|
Interest from investments (2nd quarter) |
5,655 |
|
Overhead costs: |
|
|
1st quarter |
84,825 |
|
2nd quarter |
113,100 |
|
Selling and administrative costs, including |
|
|
$3,393 depreciation: |
|
|
1st quarter |
56,550 |
|
2nd quarter |
79,170 |
|
Purchase of equipment (2nd quarter) |
56,550 |
|
Sale of equipment (1st quarter) |
16,965 |
|
Collections from clients: |
|
|
1st quarter |
260,130 |
|
2nd quarter |
429,780 |
|
Interest payments (2nd quarter)
Prepare a cash budget for each of the first two quarters of 2012. (List multiple entries from largest to smallest amounts, e.g. 10, 5, 1 for January. If answer is zero please enter 0, do not leave any fields blank.)
My question is how do you find the borrowings and repayments.
|
339
|