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)	$8,070
Purchase season football tickets in September	110
Additional entertainment for each month	280
Pay fall semester tuition in September	4,400
Pay rent at the beginning of each month	390
Pay for food each month	220
Pay apartment deposit on September 2 (to be returned December 15)	600
Part-time job earnings each month (net of taxes)	1,000

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: Part-time job Deposit Total cash recelpts Less estimated cash payments for: Season football tickets Additional entertainment $ Tuition $$ Rent Food Deposit Total cash payments Cash increase (decrease) Plus cash balance at beqinning of month Cash balance at end of month