Lisa's budget must include: Giving, Saving, Food, Gas, Entertainment, and Personal.
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
![Lisa is a third-year college student living alone in an apartment. She works 20 hours a week at a local bank. She makes $10 per hour.
Lisa has a savings account that she built up during high school and by working full-time summer jobs. During the school year, she
withdraws $350 per month in order to help cover her living expenses. Lisa's college tuition and books are covered by her
scholarships. Lisa's parents help her by providing an additional $500 a month. Use 80% of Lisa's gross income for the month for her
net income. Lisa's parents also provide health insurance. Lisa's fixed monthly expenses are:
Rent:
$600
Renters Insurance: $25
Car Insurance:
Utilities:
Cell phone:
Cable/Internet:
$110
$60
$60
$40
Lisa's budget must include: Giving, Saving, Food, Gas, Entertainment, and Personal.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8b5762d1-f76e-48f7-b048-0d7bb1fc351c%2F22e95e19-9d2a-45be-81e9-4f8cfb06aed3%2Fiee900j_processed.jpeg&w=3840&q=75)
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