a) | ||||
Katherine Malloy | ||||
Cash Budget | ||||
For the Four Months Ending December 31 | ||||
Sept. | oct. | Nov. | Dec. | |
Estimated cash receipts from: |
||||
Part-time job |
$ 1,400.00 | $ 1,400.00 | $ 1,400.00 | $ 1,400.00 |
Deposit |
$ 500.00 | |||
Total cash receipts | $ 1,400.00 | $ 1,400.00 | $ 1,400.00 | $ 1,900.00 |
Estimated cash payments for: | ||||
Season football tickets | $ 210.00 | |||
Additional entertainment | $ 275.00 | $ 275.00 | $ 275.00 | $ 275.00 |
Tuition | $ 3,700.00 | |||
Rent | $ 600.00 | $ 600.00 | $ 600.00 | $ 600.00 |
Food | $ 235.00 | $ 235.00 | $ 235.00 | $ 235.00 |
Deposit | $ 500.00 | |||
Total cash payments | $ 5,520.00 | $ 1,110.00 | $ 1,110.00 | $ 1,110.00 |
Cash increase (decrease) | $ (4,120.00) | $ 290.00 | $ 290.00 | $ 790.00 |
Cash balance at beginning of month | $ 5,750.00 | $ 1,630.00 | $ 1,920.00 | $ 2,210.00 |
Cash balance at end of month | $ 1,630.00 | $ 1,920.00 | $ 2,210.00 | $ 3,000.00 |
b) Static budgets | ||||
The four-month budgets do not change with any identified activity level so they are static budgets | ||||
c) | ||||
Malloy can see that her present plan will not provide sufficient cash. If Malloy did not budget but went ahead with the original plan, she would be ($3700 - $3000) $700 short 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...
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) $6,200 Purchase season football tickets in September 80 Additional entertainment for each month 220 Pay fall semester...
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: $8,610 120 Cash balance, September 1 (from a summer job) Purchase season football tickets in September Additional entertainment for each month Pay fall...
Personal Budget 210 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) $5,750 Purchase season football tickets in September Additional entertainment for each month 275 Pay...
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Personal Budget At the beginning of the school year, Priscilla Wescott 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) $6,000 Purchase season football tickets in September 150 Additional entertainment for each month 250 Pay...
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1. 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) $7,510 Purchase season football tickets in September 100 Additional entertainment for each month 260...
a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate the cash outflows, a decrease in cash or cash payments. b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? c. What are the budget implications for Craig Kovar? Craig can see that his present plan ______ sufficient cash. If Craig did not budget but went ahead with the original plan, he would be $______ short at...
EX 21-1 Personal budget Obj. 2,5 cash At the beginning of the school year, Priscilla Wescott decided to prepare a cash budget for the 3,150 months of September, October, November, and December. The budget must plan for enough TNPLATE CL Reserved layot copied or dupa w a rt WON 2020 Chapter 21 Budgeting 108 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: $6,000...
Personal An accounting device used to plan and control resources of operational departments and divisions.Budget At the beginning of the school year, Priscilla Wescott decided to prepare a A budget of estimated cash receipts and payments.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...