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Estimated cash receipts from: Part-time job ✓ Deposit ✓ Total cash receipts Less estimated cash payments for: Season football tickets Additional entertainment Tuition Rent Food - V ✔ For the Four Months Ending December 31 September October $ $ $ $ $ Deposit Total cash payments Cash increase (decrease) Plus 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 hudget? November $ $ $ December

Estimated cash receipts from: Part-time job ✓ Deposit ✓ Total cash receipts Less estimated cash payments for: Season football tickets Additional entertainment Tuition Rent Food - V ✔ For the Four Months Ending December 31 September October $ $ $ $ $ Deposit Total cash payments Cash increase (decrease) Plus 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 hudget? November $ $ $ December

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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Estimated cash receipts from: Part-time job Deposit Total cash receipts Less estimated cash payments for: Season football tickets Additional entertainment Tuition Rent Food For the Four Months Ending December 31 September Deposit Total cash payments Cash increase (decrease) Plus cash balance at beginning of month Cash balance at end of month Static A $ A 10 $ tA A $ October 00 $ LA $ $ b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? November 000 11 tA A December 44
Transcribed Image Text:Estimated cash receipts from: Part-time job Deposit Total cash receipts Less estimated cash payments for: Season football tickets Additional entertainment Tuition Rent Food For the Four Months Ending December 31 September Deposit Total cash payments Cash increase (decrease) Plus cash balance at beginning of month Cash balance at end of month Static A $ A 10 $ tA A $ October 00 $ LA $ $ b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? November 000 11 tA A December 44
Personal budget At 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 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: $10,100 Cash balance, September 1 (from a summer job) Purchase season football tickets in September Additional entertainment for each month X Open spreadsheet 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) 1,150 below. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions 150 240 Craig Kovar Cash Budget 5,300 580 530 580 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.
Transcribed Image Text:Personal budget At 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 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: $10,100 Cash balance, September 1 (from a summer job) Purchase season football tickets in September Additional entertainment for each month X Open spreadsheet 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) 1,150 below. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions 150 240 Craig Kovar Cash Budget 5,300 580 530 580 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.
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