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) $8,380 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) 110 290 4,500 410 230 600 1,040 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.
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) $8,380 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) 110 290 4,500 410 230 600 1,040 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.
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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:
$8,380
110
290
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)
4,500
410
230
600
1,040
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
Transcribed Image Text: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
Rent
Food
Deposit
Total cash payments
Overall cash increase (decrease)
Cash balance at beginning of month
Cash balance at end of month
LA
QQ⁰⁰⁰⁰⁰
LA
September October November December
LA
LA
QOOQ
0000
0001
8
LA
SA
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