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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 mu 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 $6,210 80 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) KATHERINE MALLOY Cash Budget For the Four Months Ending December 31 Estimated cash receipts from: Part-time job Deposit Total cash receipts Estimated cash payments for: Season football tickets 220 3,400 300 170 400 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. 770 September October November December E

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 mu 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 $6,210 80 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) KATHERINE MALLOY Cash Budget For the Four Months Ending December 31 Estimated cash receipts from: Part-time job Deposit Total cash receipts Estimated cash payments for: Season football tickets 220 3,400 300 170 400 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. 770 September October November December E

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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): $6,210 - Purchase season football tickets in September: $80 - Additional entertainment for each month: $220 - Pay fall semester tuition in September: $3,400 - Pay rent at the beginning of each month: $300 - Pay for food each month: $170 - Pay apartment deposit on September 2 (to be returned December 15): $150 - Part-time job earnings, each month (net of taxes): $770 Task: 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 | | | | | | Deposit | | | | | | **Total cash receipts** | | | | | | **Estimated cash payments for:** | | | | | | Season football tickets | | | | | **Check My Work** (Note: The table for the budget requires numerical entries to complete the cash budget planning for each month.)
Transcribed Image Text: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): $6,210 - Purchase season football tickets in September: $80 - Additional entertainment for each month: $220 - Pay fall semester tuition in September: $3,400 - Pay rent at the beginning of each month: $300 - Pay for food each month: $170 - Pay apartment deposit on September 2 (to be returned December 15): $150 - Part-time job earnings, each month (net of taxes): $770 Task: 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 | | | | | | Deposit | | | | | | **Total cash receipts** | | | | | | **Estimated cash payments for:** | | | | | | Season football tickets | | | | | **Check My Work** (Note: The table for the budget requires numerical entries to complete the cash budget planning for each month.)
**Four-Month Budget Plan Ending December 31** This section outlines the budgeting framework for assessing estimated cash receipts and payments over four months: September, October, November, and December. **Estimated Cash Receipts:** 1. **Part-time Job:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 2. **Deposit:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 3. **Total Cash Receipts:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] **Estimated Cash Payments:** 1. **Season Football Tickets:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 2. **Additional Entertainment:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 3. **Tuition:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 4. **Rent:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 5. **Food:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 6. **Deposit:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 7. **Total Cash Payments:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] **Summary of Budget:** - **Overall Cash Increase (Decrease):** - September: [input field] - October: [input field] - November: [input field] - December: [input field] - **Cash Balance at Beginning of Month:**
Transcribed Image Text:**Four-Month Budget Plan Ending December 31** This section outlines the budgeting framework for assessing estimated cash receipts and payments over four months: September, October, November, and December. **Estimated Cash Receipts:** 1. **Part-time Job:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 2. **Deposit:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 3. **Total Cash Receipts:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] **Estimated Cash Payments:** 1. **Season Football Tickets:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 2. **Additional Entertainment:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 3. **Tuition:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 4. **Rent:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 5. **Food:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 6. **Deposit:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] 7. **Total Cash Payments:** - September: [input field] - October: [input field] - November: [input field] - December: [input field] **Summary of Budget:** - **Overall Cash Increase (Decrease):** - September: [input field] - October: [input field] - November: [input field] - December: [input field] - **Cash Balance at Beginning of Month:**
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