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$)$

$$6,420$

$90$

$220$

$3,500$

$310$

$180$

$400$

$800$

Purchase season football tickets in September

Additional entertainment for each month

Pay fall semester tuition in September

Pay rent at the beginning of each month

Pay for food each month

Pay apartment deposit on September $2($to be returned December $15)$

Part$-$time job earnings each month $($net of taxes$)$

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 $31$

Line Item Description

September October November December

Estimated cash receipts from:

Check My Work $3$ more Check My Work uses remaining.

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