Personal Budget For the Four Months Ending December $31$

b$.$ Are the four monthly budgets that are presented prepared as static budgets or flexible budgets?

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c$.$ What are the budget implications for Craig Kovar?

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$)$

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$)$

$$10,300$

$140$

$220$

$5,400$

$530$

$480$

$530$

$1,050$

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.

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

For the Four Months Ending December $31$