Case 10 63 a1 In this chapter, you learned about the benefits of budgeting for a business It is also important for individuals, especially students Jo is an accounting major Jos estimate of expenses for the next eight month academic year (September to May) are given in the chart below Jo receives $750 per month from family members, Annually, Jo gets a total of $700 from a part time job and $1,200 from a bursary Tuition and fees $6,200 Books and supplies $1,500 Residence and food 9,200 Internet connection 295 Local travel (included with student fees) 0 Travel home 400 Clothing 400 Personal sundries 560 Entertainment and going out 424 Misc 420 (a1) Prepare a budget for Jo and calculate the shortfall Budget for Jo Cash InflowsTotal Cash InflowsShortfallSurplus Tuition and Fees Part Time Job Internet Connection Entertainment and Miscellaneous Bursary Books and Supplies Family Support Residence and Food Clothing and Personal Sundries Travel Home $ Residence and Food Internet Connection Books and Supplies Entertainment and Miscellaneous Tuition and Fees Clothing and Personal Sundries Travel Home Family Support Part Time Job Bursary Books and Supplies Entertainment and Miscellaneous Travel Home Internet Connection Clothing and Personal Sundries Residence and Food Family Support Part Time Job Tuition and Fees Bursary Total Cash InflowsCash InflowsShortfallSurplus AddLess SurplusShortfallTotal Cash OutflowsCash Outflows Books and Supplies Part Time Job Family Support Clothing and Personal Sundries Entertainment and Miscellaneous Bursary Tuition and Fees Travel Home Residence and Food Internet Connection Part Time Job Travel Home Family Support Residence and Food Bursary Tuition and Fees Books and Supplies Entertainment and Miscellaneous Internet Connection Clothing and Personal Sundries Internet Connection Clothing and Personal Sundries Residence and Food Family Support Entertainment and Miscellaneous Bursary Travel Home Part Time Job Tuition and Fees Books and Supplies Residence and Food Travel Home Entertainment and Miscellaneous Books and Supplies Internet Connection Clothing and Personal Sundries Family Support Part Time Job Bursary Tuition and Fees Tuition and Fees Entertainment and Miscellaneous Bursary Books and Supplies Residence and Food Internet Connection Clothing and Personal Sundries Travel Home Part Time Job Family Support Travel Home Books and Supplies Residence and Food Internet Connection Entertainment and Miscellaneous Clothing and Personal Sundries Part Time Job Family Support Bursary Tuition and Fees Books and Supplies Internet Connection Travel Home Clothing and Personal Sundries Residence and Food Entertainment and Miscellaneous Family Support Bursary Tuition and Fees Part Time Job ShortfallTotal Cash OutflowsSurplusCash Outflows SurplusCash InflowsTotal Cash InflowsCash OutflowsShortfallTotal Cash Outflows $

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Question: Case 10.63 a1 In this chapter, you learned about the benefits of budgeting for a business. It is also important for individuals, especially students. Jo

Case 10.63 a1

In this chapter, you learned about the benefits of budgeting for a business. It is also important for individuals, especially students. Jo is an accounting major. Jos estimate of expenses for the next eight-month academic year (September to May) are given in the chart below. Jo receives $750 per month from family members, Annually, Jo gets a total of $700 from a part-time job and $1,200 from a bursary.

Tuition and fees	$6,200	Books and supplies	$1,500
Residence and food	9,200	Internet connection	295
Local travel (included with student fees)	0	Travel home	400
Clothing	400	Personal sundries	560
Entertainment and going out	424	Misc.	420

(a1) Prepare a budget for Jo. and calculate the shortfall.

Budget for Jo
Cash InflowsTotal Cash InflowsShortfallSurplus :
Tuition and Fees Part-Time Job Internet Connection Entertainment and Miscellaneous Bursary Books and Supplies Family Support Residence and Food Clothing and Personal Sundries Travel Home		$
Residence and Food Internet Connection Books and Supplies Entertainment and Miscellaneous Tuition and Fees Clothing and Personal Sundries Travel Home Family Support Part-Time Job Bursary
Books and Supplies Entertainment and Miscellaneous Travel Home Internet Connection Clothing and Personal Sundries Residence and Food Family Support Part-Time Job Tuition and Fees Bursary
Total Cash InflowsCash InflowsShortfallSurplus
AddLess : SurplusShortfallTotal Cash OutflowsCash Outflows
Books and Supplies Part-Time Job Family Support Clothing and Personal Sundries Entertainment and Miscellaneous Bursary Tuition and Fees Travel Home Residence and Food Internet Connection
Part-Time Job Travel Home Family Support Residence and Food Bursary Tuition and Fees Books and Supplies Entertainment and Miscellaneous Internet Connection Clothing and Personal Sundries
Internet Connection Clothing and Personal Sundries Residence and Food Family Support Entertainment and Miscellaneous Bursary Travel Home Part-Time Job Tuition and Fees Books and Supplies
Residence and Food Travel Home Entertainment and Miscellaneous Books and Supplies Internet Connection Clothing and Personal Sundries Family Support Part-Time Job Bursary Tuition and Fees
Tuition and Fees Entertainment and Miscellaneous Bursary Books and Supplies Residence and Food Internet Connection Clothing and Personal Sundries Travel Home Part-Time Job Family Support
Travel Home Books and Supplies Residence and Food Internet Connection Entertainment and Miscellaneous Clothing and Personal Sundries Part-Time Job Family Support Bursary Tuition and Fees
Books and Supplies Internet Connection Travel Home Clothing and Personal Sundries Residence and Food Entertainment and Miscellaneous Family Support Bursary Tuition and Fees Part-Time Job
ShortfallTotal Cash OutflowsSurplusCash Outflows
SurplusCash InflowsTotal Cash InflowsCash OutflowsShortfallTotal Cash Outflows		$

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