Question
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
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) | $6,910 |
| Purchase season football tickets in September | 90 |
| Additional entertainment for each month | 240 |
| Pay fall semester tuition in September | 3,700 |
| Pay rent at the beginning of each month | 340 |
| Pay for food each month | 190 |
| Pay apartment deposit on September 2 (to be returned on December 15) | 500 |
| Part-time job earnings each month (net of taxes) | 860 |
Question Content Area
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.
| September | October | November | December | |
| Estimated cash receipts from: | ||||
| Part-time job | fill in the blank | $fill in the blank | $fill in the blank | $fill in the blank |
| Deposit | fill in the blank | |||
| Total cash receipts | $fill in the blank | $fill in the blank | $fill in the blank | $fill in the blank |
| Estimated cash payments for: | ||||
| Season football tickets | $fill in the blank | |||
| Additional entertainment | fill in the blank | $fill in the blank | $fill in the blank | $fill in the blank |
| Tuition | fill in the blank | |||
| Rent | fill in the blank | fill in the blank | fill in the blank | fill in the blank |
| Food | fill in the blank | fill in the blank | fill in the blank | fill in the blank |
| Deposit | fill in the blank | |||
| Total cash payments | $fill in the blank | $fill in the blank | $fill in the blank | $fill in the blank |
| Overall cash increase (decrease) | $fill in the blank | $fill in the blank | $fill in the blank | $fill in the blank |
| Cash balance at beginning of the month | fill in the blank | fill in the blank | fill in the blank | fill in the blank |
| Cash balance at end of month | $fill in the blank | $fill in the blank | $fill in the blank | $fill in the blank |
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Comparative international accounting
Authors: Christopher nobes, Robert parker
9th Edition
273703579, 978-0273703570
