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: $10,650 Cash balance, September 1 (from a summer job) Purchase season football tickets in September 180 Additional entertainment for each month 280 5,500 Pay fall semester tuition in September Pay rent at the beginning of each month 680 Pay for food each month 620 680 Pay apartment deposit on September 2 (to be returned December 15) Part-time job earnings each month (net of taxes) 1,350 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. X Open spreadsheet a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except cash decrease which should be indicated with a minus sign. Craig Kovar Cash Budget Arial 10 B 3 Merge General .00 >0 V v E 27v or . -23 fx A B C D F G H 1 Personal budget 2 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 se 3 which is the same as the fall tuition. The following information relates to the budget: 4. 5 DATA 6 Cash balance, September 1 (from a summer job) $10,650 7 Purchase season football tickets in September 180 8 Additional entertainment for each month 280 9 Pay fall semester tuition in September 5,500 10 Pay rent at the beginning of each month 680 11 Pay for food each month 620 12 Pay apartment deposit on September 2 (to be returned December 1 680 13 Part-time job earnings each month (net of taxes) 1,350 14 15 Select the corresponding accounts in the dropdowns in cells B23:B24, B27:B32, B35. Using formulas and cell references, perform the required analysis, and input your answers into the green cells in the C, D, E, and F columns 16 numeric results for the green entry cells (C23:F23, F24, C25:F25, C27, C28:F28, C29, C30:F31, C32, C33:F36, F39) into the appropriate fields in CNOWv2 for grading. 17 18 Craig Kovar 19 Cash Budget 20 For the Four Months Ending December 31 Formulas .0 M ... B23 fx B D E F G H I 17 18 19 20 21 Craig Kovar Cash Budget For the Four Months Ending December 31 September October Formulas November December 22 a. Estimated cash receipts from: 23 24 25 26 Total cash receipts Less estimated cash payments for: 27 28 29 30 31 32 33 34 Total cash payments Cash increase (decrease) 35 36 Cash balance at end of month 37 38 Formula 20 Budaot surlus/shortace at the end of December
