Business, 26.10.2021 19:20 RayQuan115

Personal Budget At the beginning of the school year, Katherine Malloy decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget:
Cash balance, September 1 (from a summer job) $5,750
Purchase season football tickets in September 210
Additional entertainment for each month 275
Pay fall semester tuition in September 3,700
Pay rent at the beginning of each month 600
Pay for food each month 235
Pay apartment deposit on September 2 (to be returned December 15) 500
Part-time job earnings each month (net of taxes) 1,400
a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except an overall cash decrease which should be indicated with a minus sign.
Katherine Malloy
Cash Budget
For the Four Months Ending December 31
September October November December
Estimated cash receipts from:
Part-time job $fill in the blank f74d95fc0fd2034_1 $fill in the blank f74d95fc0fd2034_2 $fill in the blank f74d95fc0fd2034_3 $fill in the blank f74d95fc0fd2034_4
Deposit fill in the blank f74d95fc0fd2034_5
Total cash receipts $fill in the blank f74d95fc0fd2034_6 $fill in the blank f74d95fc0fd2034_7 $fill in the blank f74d95fc0fd2034_8 $fill in the blank f74d95fc0fd2034_9
Estimated cash payments for:
Season football tickets $fill in the blank f74d95fc0fd2034_10
Additional entertainment fill in the blank f74d95fc0fd2034_11 $fill in the blank f74d95fc0fd2034_12 $fill in the blank f74d95fc0fd2034_13 $fill in the blank f74d95fc0fd2034_14
Tuition fill in the blank f74d95fc0fd2034_15
Rent fill in the blank f74d95fc0fd2034_16 fill in the blank f74d95fc0fd2034_17 fill in the blank f74d95fc0fd2034_18 fill in the blank f74d95fc0fd2034_19
Food fill in the blank f74d95fc0fd2034_20 fill in the blank f74d95fc0fd2034_21 fill in the blank f74d95fc0fd2034_22 fill in the blank f74d95fc0fd2034_23
Deposit fill in the blank f74d95fc0fd2034_24
Total cash payments $fill in the blank f74d95fc0fd2034_25 $fill in the blank f74d95fc0fd2034_26 $fill in the blank f74d95fc0fd2034_27 $fill in the blank f74d95fc0fd2034_28
Cash increase (decrease) $fill in the blank f74d95fc0fd2034_29 $fill in the blank f74d95fc0fd2034_30 $fill in the blank f74d95fc0fd2034_31 $fill in the blank f74d95fc0fd2034_32
Cash balance at beginning of month fill in the blank f74d95fc0fd2034_33 fill in the blank f74d95fc0fd2034_34 fill in the blank f74d95fc0fd2034_35 fill in the blank f74d95fc0fd2034_36
Cash balance at end of month $fill in the blank f74d95fc0fd2034_37 $fill in the blank f74d95fc0fd2034_38 $fill in the blank f74d95fc0fd2034_39 $fill in the blank f74d95fc0fd2034_40
Feedback
Sometimes an item may be a decrease in one period and an increase in a different period.
Review the definitions of static budgets and flexible budgets.
What weaknesses are shown by this cash budget?
b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets?
c. Malloy can see that her present plan sufficient cash. If Malloy did not budget but went ahead with the original plan, she would be $ at the end of December, with no time left to adjust

Answers: 3

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Personal Budget At the beginning of the school year, Katherine Malloy decided to prepare a cash bu...

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