Preparation of cash budget. Sam and Suzy Sizeman need to make a cash budget for the last quarter of 2020 to make sure they can cover their expenditures during the period. Sam and Suzy have been preparing budgets for the past several years and have been able to identify the percentage of their income that they pay for most of for their cash outflows. These percentages are based on their? take-home pay? (e.g., monthly utilities normally run 5.1 %of monthly? take-home pay). The information can be used to create their? fourth-quarter budget for

2020

i Data Table X Income Monthly take-home pay $4,913 Expenses Housing 30.1% Utilities 5.1% Food 10.1% Transportation 6.8% Medical/dental 0.6% Clothing for October & November 2.6% Clothing for December $439 Property taxes (November only) 11.4% Appliances 1.2% Personal Care 2.2%Entertainment for October & November 6.3% Entertainment for December $1,481 Savings 7.3% Other 4.6% Excess in cash 4.7% Print Done