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: Cash balance, September 1 (from a summer job) $10,900 Purchase season football tickets in September 190 Additional entertainment for each month 290 Pay fall semester tuition in September 5,700 Pay rent at the beginning of each month 700 Pay for food each month 640 Pay apartment deposit on September 2 (to be returned December 15) 700 Part-time job earnings each month (net of taxes) 1,400 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 below.     Open spreadsheet   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. Craig Kovar Cash Budget For the Four Months Ending December 31   September October November December Estimated cash receipts from:     $fill in the blank 3   $fill in the blank 4   $fill in the blank 5   $fill in the blank 6                   fill in the blank 8 Total cash receipts   $fill in the blank 9   $fill in the blank 10   $fill in the blank 11   $fill in the blank 12 Less estimated cash payments for:     $fill in the blank 14       fill in the blank 16   $fill in the blank 17   $fill in the blank 18   $fill in the blank 19       fill in the blank 21       fill in the blank 23     fill in the blank 24     fill in the blank 25     fill in the blank 26       fill in the blank 28     fill in the blank 29     fill in the blank 30     fill in the blank 31       fill in the blank 33             Total cash payments   $fill in the blank 34   $fill in the blank 35   $fill in the blank 36   $fill in the blank 37 Cash increase (decrease)   $fill in the blank 38   $fill in the blank 39   $fill in the blank 40   $fill in the blank 41       fill in the blank 43     fill in the blank 44     fill in the blank 45     fill in the blank 46 Cash balance at end of month   $fill in the blank 47   $fill in the blank 48   $fill in the blank 49   $fill in the blank 50

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Cash budget

A cash budget is an estimate of an organization's cash flow for the future period. A cash budget forecasts future cash receipts and payments from various sources for a fiscal year. A cash budget can be created once a month or once a week to determine the organization's cash position and ensure its performance in relation to the budget. It aids in determining whether the company has enough cash and cash equivalents to meet its operational needs in the future. If cash receipts are insufficient to cover future expenses, an organization may plan to obtain funds from other sources. After estimating the sales, purchase, and capital expenditure budgets for the year, management develops a cash budget. These budgets are created to ensure that an organization's cash flow is managed. It is important to note that only cash transactions are recorded when actual cash enters and exits an organization.