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Please help me figure out the rest of this personal budget problem below. Thanks! Personal Budget At the beginning of the school year, Priscilla Wescott

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Please help me figure out the rest of this personal budget problem below. Thanks!

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Personal Budget At the beginning of the school year, Priscilla Wescott 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) $8,070 Purchase season football tickets in September 110 Additional entertainment for each month 280 Pay fall semester tuition in September 4,400 Pay rent at the beginning of each month 390 Pay for food each month 220 Pay apartment deposit on September 2 (to be returned December 15) 500 Parttime job earnings each month (net of taxes) 1,000 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. Priscilla Wescott Cash Budget For the Four Months Ending December 31 September October November December Estimated cash receipts from: Part-time job 1,000 $ 1,000 V 1,000 1,000 Deposit v 600 Total cash receipts 1,000 $ 1,000 1,000 1,600 Less estimated cash payments for: Season football tickets 110 Additional entertainment 280 280 280 280 Tuition 4,400 Rent 390 390 390 390 Food v 220 220 220 220 V Deposit 600 Total cash payments 6,000 890 890 890 Cash increase (decrease) -5,000 110 110 710 Plus cash balance at beginning of month v Cash balance at end of monthb. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? Static V c. What are the budget implications for Priscilla Wescott? Priscilla can see that her present plan will not provide v sufficient cash. If Priscilla did not budget but went ahead with the original plan, she would be short v at the end of December, with no time left to adjust

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