At the beginning of the school year, Craig Kovar 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: a. Prepare a cash budget for September, October, November, and December, Use the minus sign to indicate cash outflows, a decrease in cash or cash parments. Cnapter 22 Homework Cash Budget For the Four Months Ending December 31 Line Item Description Estimated cash receipts from: Part-time 10b. Deposit Total cash receipts Less estimated cash payments for: Season football tickets V 120 Adcitional entertainment V 6005 Tuition Rent Eood Deposit v Total cash payments Cash increase (decrease) Plus cash balance at besainning of month . v Cosh balance ot end of month Feeduack Are the four monthly budgets that are presented prepared as static budgets or fexible budgets? c. What are the budget implications for Craig Kovar? Craig can see that his present plan would be s . If Craig did not budget but went ahead with the original plan, he at the end of December, with no time left to adjust. Fendoace Tored My wor 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