1. 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 087d5e00ff8800e_1	$fill in the blank 087d5e00ff8800e_2	$fill in the blank 087d5e00ff8800e_3	$fill in the blank 087d5e00ff8800e_4
Deposit				fill in the blank 087d5e00ff8800e_5
Total cash receipts	$fill in the blank 087d5e00ff8800e_6	$fill in the blank 087d5e00ff8800e_7	$fill in the blank 087d5e00ff8800e_8	$fill in the blank 087d5e00ff8800e_9
Estimated cash payments for:
Season football tickets	$fill in the blank 087d5e00ff8800e_10
Additional entertainment	fill in the blank 087d5e00ff8800e_11	$fill in the blank 087d5e00ff8800e_12	$fill in the blank 087d5e00ff8800e_13	$fill in the blank 087d5e00ff8800e_14
Tuition	fill in the blank 087d5e00ff8800e_15
Rent	fill in the blank 087d5e00ff8800e_16	fill in the blank 087d5e00ff8800e_17	fill in the blank 087d5e00ff8800e_18	fill in the blank 087d5e00ff8800e_19
Food	fill in the blank 087d5e00ff8800e_20	fill in the blank 087d5e00ff8800e_21	fill in the blank 087d5e00ff8800e_22	fill in the blank 087d5e00ff8800e_23
Deposit	fill in the blank 087d5e00ff8800e_24
Total cash payments	$fill in the blank 087d5e00ff8800e_25	$fill in the blank 087d5e00ff8800e_26	$fill in the blank 087d5e00ff8800e_27	$fill in the blank 087d5e00ff8800e_28
Cash increase (decrease)	$fill in the blank 087d5e00ff8800e_29	$fill in the blank 087d5e00ff8800e_30	$fill in the blank 087d5e00ff8800e_31	$fill in the blank 087d5e00ff8800e_32
Cash balance at beginning of month	fill in the blank 087d5e00ff8800e_33	fill in the blank 087d5e00ff8800e_34	fill in the blank 087d5e00ff8800e_35	fill in the blank 087d5e00ff8800e_36
Cash balance at end of month	$fill in the blank 087d5e00ff8800e_37	$fill in the blank 087d5e00ff8800e_38	$fill in the blank 087d5e00ff8800e_39	$fill in the blank 087d5e00ff8800e_40

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 cas