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I am having issues with the one value circled in red. I have done all of the solutions around it which are correct, but this
I am having issues with the one value circled in red. I have done all of the solutions around it which are correct, but this one area is constantly wrong.
Personal budget 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: Cash balance, September 1 (from a summer job) $10,750 Purchase season football tickets in September 170 Additional entertainment for each month 270 Pay fall semester tuition in September 5,600 Pay rent at the beginning of each month 650 Pay for food each month 600 Pay apartment deposit on September 2 (to be returned December 15) 650 Part-time job earnings each month (net of taxes) 1,300 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except cash Craig Kovar Cash Budget For the Four Months Ending December 31 September October November December Estimated cash receipts from: Part-time job $ 1,300 $ 1,300 $ 1,300 $ Deposit 1,300 650 1,950 $ 1,300 $ 1,300 $ 1,300 $ Total cash receipts Less estimated cash payments for: Season football tickets Additional entertainment $ 270 $ 270 $ 270 170 270 5,600 650 Tuition Rent 650 650 650 Food 600 600 600 600 650 Deposit 7,940 $ 1,520 $ Total cash payments Cash increase (decrease) Plus cash balance at beginning of month $ -6,640 $ -220 $ 1,520 1,520 -220 $ 170 ,890 3,670 3,670 $4.100 10,750 4,110 3 Cash balance at end of month 4,110 $ 3,890 $ b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgetsStep by Step Solution
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