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Personal An accounting device used to plan and control resources of operational departments and divisions.Budget At the beginning of the school year, Craig Kovar decided

  1. Personal An accounting device used to plan and control resources of operational departments and divisions.Budget

    At the beginning of the school year, Craig Kovar decided to prepare a A budget of estimated cash receipts and payments.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) $9,250
    Purchase season football tickets in September 160
    Additional entertainment for each month 250
    Pay fall semester tuition in September 4,800
    Pay rent at the beginning of each month 600
    Pay for food each month 550
    Pay apartment deposit on September 2 (to be returned December 15) 600
    Part-time job earnings each month (net of taxes) 1,200

    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.

    Craig Kovar
    Cash Budget
    For the Four Months Ending December 31
    September October November December
    Estimated cash receipts from:
    • Additional entertainment
    • Food
    • Part-time job
    • Rent
    • Tuition
    $ $ $ $
    • Additional entertainment
    • Deposit
    • Food
    • Rent
    • Tuition
    Total cash receipts $ $ $ $
    Less estimated cash payments for:
    • Cash
    • Insurance
    • Movie tickets
    • Part-time job
    • Season football tickets
    $
    • Additional entertainment
    • Cash
    • Insurance
    • Movie tickets
    • Part-time job
    $ $ $
    • Cash
    • Insurance
    • Movie tickets
    • Part-time job
    • Tuition
    • Cash
    • Insurance
    • Movie tickets
    • Part-time job
    • Rent
    • Cash
    • Food
    • Insurance
    • Movie tickets
    • Part-time job
    • Deposit
    • Insurance
    • Movie tickets
    • Part-time job
    • Prepaid rent
    Total cash payments $ $ $ $
    Cash increase (decrease) $ $ $ $
    • Less cash balance at beginning of month
    • Plus cash balance at beginning of month
    Cash balance at end of month $ $ $ $

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