8 Estimated cash receipts from:Part-time jobDepositTotal cash receiptsLess estimated cash payments for:Season football ticketsAdditional entertainmentTuitionRentFoodFor the Four Months Ending December 31SeptemberDepositTotal cash paymentsCash increase (decrease)Plus cash balance at beginning of monthCash balance at end of monthStaticA$A10$tAA$October00$LA$$b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets?November00011tAADecember44 Personal budgetAt 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 mustplan 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:$10,100Cash balance, September 1 (from a summer job)Purchase season football tickets in SeptemberAdditional entertainment for each monthXOpen spreadsheetPay fall semester tuition in SeptemberPay rent at the beginning of each monthPay for food each monthPay apartment deposit on September 2 (to be returned December 15)Part-time job earnings each month (net of taxes)1,150below.This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions150240Craig KovarCash Budget5,300580530580a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except cash decrease which should be indicated with aminus sign.

Cash budget refers to the presentation of the cash receipts and payments in a particular period…

Estimated cash receipts from: Part-time job ✓ Deposit ✓ Total cash receipts Less estimated cash payments for: Season football tickets Additional entertainment Tuition Rent Food - V ✔ For the Four Months Ending December 31 September October $ $ $ $ $ Deposit Total cash payments Cash increase (decrease) Plus cash balance at beginning of month Cash balance at end of month b. Are the four monthly budgets that are presented prepared as static budgets or flexible hudget? November $ $ $ December

Estimated cash receipts from: Part-time job ✓ Deposit ✓ Total cash receipts Less estimated cash payments for: Season football tickets Additional entertainment Tuition Rent Food - V ✔ For the Four Months Ending December 31 September October $ $ $ $ $ Deposit Total cash payments Cash increase (decrease) Plus cash balance at beginning of month Cash balance at end of month b. Are the four monthly budgets that are presented prepared as static budgets or flexible hudget? November $ $ $ December

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, 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) $9,250 Purchase season football tickets in September 160 Additional entertainment for each month 250 Pay fall semester tuition in September 4,800 Pay rent at the beginning of each month 600 Pay for food each month 550 Pay apartment deposit on September 2 (to be returned December 15) 600 Part-time job earnings each month (net of taxes) 1,200 a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Craig KovarCash BudgetFor the Four Months Ending December 31 September October…
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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) $7,780 Purchase season football tickets in September 110 Additional entertainment for each month 270 Pay fall semester tuition in September 4,200 Pay rent at the beginning of each month 370 Pay for food each month 210 Pay apartment deposit on September 2 (to be returned December 15) 500 Part-time job earnings each month (net of taxes) 960 a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Craig Kovar Cash Budget For the Four Months Ending December 31 September October…
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) $8,860 Purchase season football tickets in September 120 Additional entertainment for each month 310 Pay fall semester tuition in September 4,800 Pay rent at the beginning of each month 430 Pay for food each month 240 Pay apartment deposit on September 2 (to be returned December 15) 600 Part-time job earnings each month (net of taxes) 1,100 a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Craig Kovar Cash Budget For the Four Months Ending December 31 September…
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,…
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