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) $9,800 Purchase season football tickets in September 130 Additional entertainment for each month 210 Pay fall semester tuition in September 5,100 Pay rent at the beginning of each month 500 Pay for food each month 460 Pay apartment deposit on September 2 (to be returned December 15) 500 Part-time job earnings each month (net of taxes) 1,000 This information has been collected in the Microsoft Excel Online file. Offen the spreadsheet, perform the required analysis, and input your answers in the questions below. Craig Kovar Cash Budget For the Four Months Ending December 31 September October November Estimated cash receipts from: December Total cash receipts Less estimated cash payments for: Accounting numeric field Total cash payments Cash increase (decrease) Cash balance at end of month Net Total cash payments Cash increase (decrease) Cash balance at end of month b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? c. What are the budget implications for Craig Kovar? Craig can see that his present plan sufficient cash. If Craig did not budget but went ahead with the original plan, he would be at the end of December, with no time left to adjust. Previous Next 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 D 3 tuition, which is the same as the fall tuition. The following information relates to the budget: G 5 DATA 6 Cash balance, September 1 (from a summer) 7 Purchase season football tickets in September $9.800 8 Additional entertainment for each month 130 9 Pay fall semester tuition in September 210 10 Pay rent at the beginning of each month 5.100 500 11 Pay for food each month 460 12 Pay apartment deposit on September 2 to be returned December 15 500 13 Part-time job earnings each month (net of taxes) 1.000 15 Select the corresponding accounts in the dropdowns in cells B23:824, B27.832, 835. Using formulas and cell references, perform the required analysis, and input your answers into the green cells in the C, 0.1 16 the numeric results for the green entry cells (C23:F23, F24, C25:F25, C27, C28:F28, C2, C30,F31, 32, C33:F36,F39) into the appropriate fields in NOW2 for grading. 17 Craig Kovar 19 Cash Budget 20 For the Four Months Ending December 31 Formula 21 September October November December etima rarande from Data Calculation Model Automat Workbook Statistics 32