I need help with part C down at the bottom of the picture."Craig can see that his present plan will not provide sufficient cash. If craig did not budget but went ahead with the original plan, he would be $______ short at the end of December, with no time left to adjust." Craig KovarCash BudgetFor the Four Months Ending December 31SeptemberOctoberNovemberDecemberEstimated cash receipts from:Part-time job810810$810810Deposit500Total cash receipts8108108101,310Less estimated cash payments for:Season football tickets-90Additional entertainment V-230-230-230-230Tuition-3,500Rent-320-320-320-320Food-180-180-180-180Deposit-500Total cash payments-4,820-730-730-730Cash increase (decrease)-4,0108080580Plus cash balance at beginning of month v6,5202,5102,5902,670Cash balance at end of month2,5102,5902,6703,250Feedbackb. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets?Staticc. What are the budget implications for Craig Kovar?Craig can see that his present plan will not provide vsufficient cash. If Craig did not budget but went ahead with the original plan, he would be $X short vat the end of December, withno time left to adjust.>%24>

Tuition fees shortage = Tuition fess required - Cash Available

Craig Kovar Cash Budget For the Four Months Ending December 31 September October November December Estimated cash receipts from: Part-time job 810 810 810 810 Deposit v 500 $ 810 V %$4 1,310 v Total cash receipts 810 810 Less estimated cash payments for: Season football tickets v $ -90 Additional entertainment -230 -230 -230 -230 V Tuition v -3,500 V Rent v -320 V -320 V -320 V -320 Food v -180 V -180 V -180 V -180 Deposit v -500 V Total cash payments -4,820 -730 -730 -730 Cash increase (decrease) -4,010 V $ 80 80 580 Plus cash balance at beginning of month / 6,520 2,510 2,590 2,670 Cash balance at end of month 2,510 2,590 2,670 v 3,250 Feedback b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? Static v c. What are the budget implications for Craig Kovar? Craig can see that his present plan will not provide v sufficient cash. If Craig did not budget but went ahead with the original plan, he would be X short v at the end of December, with no time left to adjust.

Craig Kovar Cash Budget For the Four Months Ending December 31 September October November December Estimated cash receipts from: Part-time job 810 810 810 810 Deposit v 500 $ 810 V %$4 1,310 v Total cash receipts 810 810 Less estimated cash payments for: Season football tickets v $ -90 Additional entertainment -230 -230 -230 -230 V Tuition v -3,500 V Rent v -320 V -320 V -320 V -320 Food v -180 V -180 V -180 V -180 Deposit v -500 V Total cash payments -4,820 -730 -730 -730 Cash increase (decrease) -4,010 V $ 80 80 580 Plus cash balance at beginning of month / 6,520 2,510 2,590 2,670 Cash balance at end of month 2,510 2,590 2,670 v 3,250 Feedback b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? Static v c. What are the budget implications for Craig Kovar? Craig can see that his present plan will not provide v sufficient cash. If Craig did not budget but went ahead with the original plan, he would be X short v at the end of December, with no time left to adjust.

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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