P4-11 (similar to) Question Help Preparation of cash budget. Sam and Suzy Sizeman need to prepare a cash budget for the last quarter of 2020 to make sure they can cover their expenditures during the period Sam and Suzy have been preparing budgets for the past several years and have been able to identify the percentage of their income that they pay for most of for their cash outflows. These percentages are based on their take home pay (eg monthly utilities normally run 51% of monthly take home pay). The Information here can be used to create their fourth-quarter budget for 2020 a. Prepare a quarterly cash budget for Sam and Suzy covering the months October through December 2020 b. Are there individual months that incur a deficit? c. What is the cumulative cash surplus or deficit by the end of December 2020? a. Complete the October 2020 cash budget below. (Round to the nearest dollar) Sam and Suzy Sieman Personal Budget for the Period October-December 2020 October Percent Income Take home pay Expenses Housing Utilities Food Transportation Medical Dental Clothing 30.4% 5 5.1% 5 10.3% $ 7.3% 5 0.5% 5 3.1% 5 Enter any number in the edit fields and then click Check Answer 4 parts remaining Clear All Check Answer P4-11 (similar to) Question Help Preparation of cash budget. Sam and Suzy Sizeman need to prepare a cash budget for the last quarter of 2020 to make sure they can cover their expenditures during the period Sam and Suzy have been preparing budgets for the past several years and have been able to identify the percentage of their income that they pay for most of for their cash outflows. These percentages are based on their take home pay (eg monthly utilities normally run 51% of monthly take home pay). The Information here can be used to create their fourth-quarter budget for 2020 a. Prepare a quarterly cash budget for Sam and Suzy covering the months October through December 2020 b. Are there individual months that incur a deficit? c. What is the cumulative cash surplus or deficit by the end of December 2020? US Food Transportation Medical Dental Clothing Property taxes Appliances Personal care Entertainment Savings Other 10.3% 5 7.3% $ 0.5% 5 3.1% 5 11.6% 5 1.2% 5 1.8% 5 5.6% 5 7.9% Excess cash 4.7% 5 Total expenses $ $ Cash surplus or deficit) Cumulative cash surplus or (deficit) $ Enter any number in the edit hields and then click Check Answer 4 parts Clear All Check Answer remaining - X P4-11 (similar to) Question Help Preparation of cash budget. Sam and Suzy Sizeman need to prepare a cash budest for the last quarter of 2020 10 make sure they can cover their expenditures during the period. Sam and Suzy ha tage of their income that they pay for most of for their cash outflows. Data Table of monthly take home pay). The Information here can be used a. Prepare a quarterly cash budget b. Are there individual months that in c. What is the cumulative cash surpl (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) a. Complete the October 2020 cash Income Sam and Monthly take home pay $4894 Expenses Persol Housing for the Period od Utilities 5.1% Food 10.3% Transportation 7.3% Income Medical/dental Take home pay Clothing for October & November 3.1% Clothing for December $430 Expenses Property taxes (November only) 11.6% Housing Appliances 12% Personal Care Utilities Entertainment for October November 56% Food Entertainment for December 51,503 Transportation Savings 7.9% Other 46% Medical Dental Excess in cash Clothing Print Done Enter any number in the edit fields 4 parts remaining Clear All Check Answer P4-11 (similar to) Question Help Preparation of cash budget. Sam and Suzy Sizeman need to prepare a cash budget for the last quarter of 2020 to make sure they can cover their expenditures during the period Sam and Suzy have been preparing budgets for the past several years and have been able to identify the percentage of their income that they pay for most of for their cash outflows. These percentages are based on their take home pay (eg monthly utilities normally run 51% of monthly take home pay). The Information here can be used to create their fourth-quarter budget for 2020 a. Prepare a quarterly cash budget for Sam and Suzy covering the months October through December 2020 b. Are there individual months that incur a deficit? c. What is the cumulative cash surplus or deficit by the end of December 2020? a. Complete the October 2020 cash budget below. (Round to the nearest dollar) Sam and Suzy Sieman Personal Budget for the Period October-December 2020 October Percent Income Take home pay Expenses Housing Utilities Food Transportation Medical Dental Clothing 30.4% 5 5.1% 5 10.3% $ 7.3% 5 0.5% 5 3.1% 5 Enter any number in the edit fields and then click Check Answer 4 parts remaining Clear All Check Answer P4-11 (similar to) Question Help Preparation of cash budget. Sam and Suzy Sizeman need to prepare a cash budget for the last quarter of 2020 to make sure they can cover their expenditures during the period Sam and Suzy have been preparing budgets for the past several years and have been able to identify the percentage of their income that they pay for most of for their cash outflows. These percentages are based on their take home pay (eg monthly utilities normally run 51% of monthly take home pay). The Information here can be used to create their fourth-quarter budget for 2020 a. Prepare a quarterly cash budget for Sam and Suzy covering the months October through December 2020 b. Are there individual months that incur a deficit? c. What is the cumulative cash surplus or deficit by the end of December 2020? US Food Transportation Medical Dental Clothing Property taxes Appliances Personal care Entertainment Savings Other 10.3% 5 7.3% $ 0.5% 5 3.1% 5 11.6% 5 1.2% 5 1.8% 5 5.6% 5 7.9% Excess cash 4.7% 5 Total expenses $ $ Cash surplus or deficit) Cumulative cash surplus or (deficit) $ Enter any number in the edit hields and then click Check Answer 4 parts Clear All Check Answer remaining - X P4-11 (similar to) Question Help Preparation of cash budget. Sam and Suzy Sizeman need to prepare a cash budest for the last quarter of 2020 10 make sure they can cover their expenditures during the period. Sam and Suzy ha tage of their income that they pay for most of for their cash outflows. Data Table of monthly take home pay). The Information here can be used a. Prepare a quarterly cash budget b. Are there individual months that in c. What is the cumulative cash surpl (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) a. Complete the October 2020 cash Income Sam and Monthly take home pay $4894 Expenses Persol Housing for the Period od Utilities 5.1% Food 10.3% Transportation 7.3% Income Medical/dental Take home pay Clothing for October & November 3.1% Clothing for December $430 Expenses Property taxes (November only) 11.6% Housing Appliances 12% Personal Care Utilities Entertainment for October November 56% Food Entertainment for December 51,503 Transportation Savings 7.9% Other 46% Medical Dental Excess in cash Clothing Print Done Enter any number in the edit fields 4 parts remaining Clear All Check