Question
Personal Budget At the beginning of the school year, Katherine Malloy decided to prepare a cash budget for the months of September, October, November, and
Personal Budget At the beginning of the school year, Katherine Malloy 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) $6,640 Purchase season football tickets in September 90 Additional entertainment for each month 230 Pay fall semester tuition in September 3,600 Pay rent at the beginning of each month 320 Pay for food each month 180 Pay apartment deposit on September 2 (to be returned December 15) 500 Part-time job earnings each month (net of taxes) 820 Question Content Area a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except an overall cash decrease which should be indicated with a minus sign. KATHERINE MALLOY Cash Budget For the Four Months Ending December 31 September October November December Estimated cash receipts from: Part-time job $fill in the blank 3f13db048fd1f9a_1 $fill in the blank 3f13db048fd1f9a_2 $fill in the blank 3f13db048fd1f9a_3 $fill in the blank 3f13db048fd1f9a_4 Deposit fill in the blank 3f13db048fd1f9a_5 Total cash receipts $fill in the blank 3f13db048fd1f9a_6 $fill in the blank 3f13db048fd1f9a_7 $fill in the blank 3f13db048fd1f9a_8 $fill in the blank 3f13db048fd1f9a_9 Estimated cash payments for: Season football tickets $fill in the blank 3f13db048fd1f9a_10 Additional entertainment fill in the blank 3f13db048fd1f9a_11 $fill in the blank 3f13db048fd1f9a_12 $fill in the blank 3f13db048fd1f9a_13 $fill in the blank 3f13db048fd1f9a_14 Tuition fill in the blank 3f13db048fd1f9a_15 Rent fill in the blank 3f13db048fd1f9a_16 fill in the blank 3f13db048fd1f9a_17 fill in the blank 3f13db048fd1f9a_18 fill in the blank 3f13db048fd1f9a_19 Food fill in the blank 3f13db048fd1f9a_20 fill in the blank 3f13db048fd1f9a_21 fill in the blank 3f13db048fd1f9a_22 fill in the blank 3f13db048fd1f9a_23 Deposit fill in the blank 3f13db048fd1f9a_24 Total cash payments $fill in the blank 3f13db048fd1f9a_25 $fill in the blank 3f13db048fd1f9a_26 $fill in the blank 3f13db048fd1f9a_27 $fill in the blank 3f13db048fd1f9a_28 Overall cash increase (decrease) $fill in the blank 3f13db048fd1f9a_29 $fill in the blank 3f13db048fd1f9a_30 $fill in the blank 3f13db048fd1f9a_31 $fill in the blank 3f13db048fd1f9a_32 Cash balance at beginning of month fill in the blank 3f13db048fd1f9a_33 fill in the blank 3f13db048fd1f9a_34 fill in the blank 3f13db048fd1f9a_35 fill in the blank 3f13db048fd1f9a_36 Cash balance at end of month $fill in the blank 3f13db048fd1f9a_37 $fill in the blank 3f13db048fd1f9a_38 $fill in the blank 3f13db048fd1f9a_39 $fill in the blank 3f13db048fd1f9a_40 Question Content Area b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? c. Malloy can see that her present plan sufficient cash. If Malloy did not budget but went ahead with the original plan, she would be $fill in the blank 4a4544ffbff9fb9_3 at the end of December, with no time left to adjust.
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