Personal budget At the beginning of the school year, Joe Student decided to prepare a cash budget
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Question:
Personal budget At the beginning of the school year, Joe Student decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget:
DATA
Cash balance, September 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 to be returned December
Parttime job earnings each month net of taxes
Prepare the cash budget for the quarter of the year.
Joe Student
Cash Budget
For the Four Months Ending December
September October November December
a Estimated cash receipts from:
Total cash receipts
Less estimated cash payments for:
Total cash payments
Cash increase decrease
Beginning Cash balance
Cash balance at end of month
c Budget surplusshortage at the end of December
Provide a word statement as to whether Joe will have enough money at the end of December to cover the spring semester's tuition. Include figures and shortageoverage amounts.
Flexible budget for selling and administrative expenses for a service company
Tax Services Inc. a fictitious company uses flexible budgets that are based on the following data:
DATA
Sales commissions of sales
Advertising expense of sales
Miscellaneous administrative expense $ per month plus of sales
Office salaries expense $ per month
Customer support expenses $ per month plus of sales
Research and development expense $ per month
Using formulas and cell references, perform the required analysis, and input your answers into the green cells in the C D E and F columns. Enter all amounts as positive numbers.
Tax Services Inc.
Flexible Selling and Administrative Expenses Budget
For the Month Ending October
Total sales $ $ $
Variable cost:
Total variable cost
Fixed cost:
Total fixed cost
What are Total selling and administrative expenses?
What are some common examples of recoveries in accounting?
Related Book For
Accounting
ISBN: 978-0324188004
21st Edition
Authors: Carl s. warren, James m. reeve, Philip e. fess
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