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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) Purchase season football tickets in September 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) 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 Estimated cash receipts from Part-time job Deposit Total cash receipts Estimated cash payments for: Season football tickets Additional entertainment Tuition Tuition Rent Food Deposit Total cash payments Overall cash increase (decrease) Cash balance at beginning of month Cash balance at end of month $8,290 110 290 4.500 400 230 00 QQQ000000 C c. Malloy can see that her present plan. 600 September October November December 1,030 000 000 0000 BE E b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? sufficient cash. If Malloy did not budget but went ahead with the original plan, she would be s at the end of December, with no time left to adjust.

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) Purchase season football tickets in September 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) 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 Estimated cash receipts from Part-time job Deposit Total cash receipts Estimated cash payments for: Season football tickets Additional entertainment Tuition Tuition Rent Food Deposit Total cash payments Overall cash increase (decrease) Cash balance at beginning of month Cash balance at end of month $8,290 110 290 4.500 400 230 00 QQQ000000 C c. Malloy can see that her present plan. 600 September October November December 1,030 000 000 0000 BE E b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? sufficient cash. If Malloy did not budget but went ahead with the original plan, she would be s at the end of December, with no time left to adjust.

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter8: Budgeting
Section: Chapter Questions
Problem 1E: At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of...
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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) Purchase season football tickets in September Additional entertainment for each month Pay fall semester tuition in September Pay rent at the beginning of each month Pay for food each month Estimated cash receipts from Part-time job Deposit Pay apartment deposit on September 2 (to be returned December 15) Part-time job earnings each month (net of taxes) 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 Total cash receipts Estimated cash payments for: Season football tickets Additional entertainment T Tuition Rent Food Deposit Total cash payments Overall cash increase (decrease) Cash balance at beginning of month Cash balance at end of month $8,290 110 290 4.500 400 - 230 c. Malloy can see that her present plan) 1000 000 10 0 600 September October November December 1,030 b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? QOQ Q OD QOODI sufficient cash. If Malloy did not budget but went ahead with the original plan, she would be s at the end of December, with no time left to adjust.
Transcribed Image Text: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) Purchase season football tickets in September Additional entertainment for each month Pay fall semester tuition in September Pay rent at the beginning of each month Pay for food each month Estimated cash receipts from Part-time job Deposit Pay apartment deposit on September 2 (to be returned December 15) Part-time job earnings each month (net of taxes) 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 Total cash receipts Estimated cash payments for: Season football tickets Additional entertainment T Tuition Rent Food Deposit Total cash payments Overall cash increase (decrease) Cash balance at beginning of month Cash balance at end of month $8,290 110 290 4.500 400 - 230 c. Malloy can see that her present plan) 1000 000 10 0 600 September October November December 1,030 b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? QOQ Q OD QOODI sufficient cash. If Malloy did not budget but went ahead with the original plan, she would be s at the end of December, with no time left to adjust.
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