ondo 310 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 pa 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) 58,820 Purchase season football tickets in September 120 Additional entertainment for each month Pay fall semester tuition in September 4,800 Pay rent at the beginning of each month 430 Pay for food each month 240 Pay apartment deposit on September 2 (to be returned December 15) 600 Part-time job earnings each month (net of taxes) 1,090 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 payments. a Craig Kovar Cash Budget For the Four Months Ending december 31 September October November December Estimated cash receipts from Parttime job 1.00 1,000 109 1.000 Deposit 1,000 1. LU Total Cash receipts Les estimated cash payments for Season football ticket Additional entertainment 110 X 30 sex 310 110 X D 1,090 a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate cash outflows, a de Craig Kovar Cash Budget For the Four Months Ending December 31 September October November December Estimated cash receipts from: Part-time job 1,090 1,090 1,090 Deposit 600 Total cash receipts 1,090 1,090 1,090 1,690 Less estimated cash payments for: Season football tickets 120 X Additional entertainment 310 x 310 X sl 310X 310 X Tuition 4,800 X Rent 430 X 430 X 430 X 430 X Food 240 X 240 X 240 X 240 x Deposit 600 K 6,500 X 980 X 980 X 980 X Total cash payments Cash increase (decrease) Plus cash balance at beginning of month 5,410X $ 110 110 710 8,820 3,410 3,520 3,630 Cash balance at end of month 3,410 3.520 3,630 4,340 Feedback