rsonal budget 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 pay the spring semester tuition, which is the same as the fall tuition. The following information relates o the budget: $9,050 150 230 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) This information has been collected in the Microsoft Excel Online file. Open required analysis, and input your answers in the questions below. 4,700 550 510 550 1,100 OM s spreadsheet, perform the x 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. repare a cash budget for September, October, November, and December. Enter all amounts as positive values except cash crease which should be indicated with a minus sign. Craig Kovar Cash Budget For the Four Months Ending December 31 September October November December Estimated cash receipts from: Part-time job 1,100 $ 1,100 $ 1,100 $ 1,100 Deposit Total cash receipts Less estimated cash payments for: Season football tickets Additional entertainment Tuition Rent Food Deposit Total cash payments Cash increase (decrease) Less cash balance at beginning of month 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 original plan, he would be s sufficient cash. If Craig did not budget but went ahead with the at the end of December, with no time left to adjust. ? Next >