Question: Please post to where half the answer isnt cut off! thank you! Personal Budget 210 600 At the beginning of the school year, Katherine Malloy


Personal Budget 210 600 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 tultion. 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 fall semester tuition in September 3,700 Pay rent at the beginning of each month Pay for food each month 235 Pay apartment deposit on September 2 (to be returned December 15) Part-time job earnings each month (net of taxes) 1,400 a. Prepare a cash budget for September October, November, and December. Enter all amounts as positive values except an overall cash decrease which should be Indicated with a minus sign Katherine Malloy Cash Budget For the Four Months Ending December 31 September Estimated cash receipts from Part-time job 1.400 500 October November December 1.400 1.100 1.400 Deposit 500 Katherine Malloy Cash Budget For the Four Months Ending December 31 September October November Estimated cash receipts from: Part-time job 1,400 1,400 1,400 Deposit December 1,400 500 1,400 1,400 Total cash receipts Estimated cash payments for: Season football tickets 1,400 1,900 210 Additional entertainment 275 275 275 Tuition 275 3,700 Rent 600 600 600 Food 600 235 235 2357 235 Deposit 500 Total cash payments 5.520 1.110 1,110 1.110 Cash increase (decrease) Cash balance at beginning of month 4.120 2905 290 290 X Cash balance at end of month ind b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets? Static 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 su short at the end of December, with no time left to adjust
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