S $ 290 290 790 Overall cash increase (decrease) 4,120 1.630 5,750 1,920 2,210 Cash balance at beginning of month 1.630 $ 1,920 $ 2.210 3,000 Cash balance at end of month Feedback Check My Work Sometimes an item may be a decrease in one period and an increase in a different period. Review the definitions of static budgets and flexible budgets. What weaknesses are shown by this cash budget? b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? Static c. Malloy can see that her present plan will not provide sufficient cash. If Malloy did not budget but went ahead with the original plan, she would be $ 3,000 X short at the end of December, with no time left to adjust Feedback Check My Work Sometimes an item may be a decrease in one period and an increase in a different period. Review the definitions of static budgets and flexible budgets. What weaknesses are shown by this cash budget? Feedback Check My Work Partially correct 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) $5,750 Purchase season football tickets in September 210 Additional entertainment for each month 275 Pay fall semester tuition in September 3,700 Pay rent at the beginning of each month 600 Pay for food each month 235 Pay apartment deposit on September 2 (to be returned December 15) 500 Part-time job earnings each month (net of taxes) 1,400 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. VATUEDINE MALIAV 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 1,400 1,400 1.400 1,400 Deposit 500 Total cash receipts 1,400 1,400 1,400 $ 1,900 Estimated cash payments for: Season football tickets 210 Additional entertainment 275 275 275 $ 275 Tuition 3,700 Rent 600 600 600 600 Food 235 235 235 235 Deposit 500 Total cash payments 5,520 1.110 1,110 1,110 Overall cash increase (decrease) 4,120 $ 290 $ 290 790 Cash balance at beginning of month 5,750 1.630 1,920 2.210 1,630 $ Cash balance at end of month 1,920 $ 2,210 3,000 Feedback Check My Work Sometimes an item may be a decrease in one period and an increase in a different period. Review the definitions of static budgets and flexible budgets. What weaknesses are shown by this cash budget