****PLEASE use excel for this problem, using excel functions also. Please do step by step just trying to fully understand this.

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

1. Prepare a cash budget for September, October, November, and December.

   ANS: Check Figure: December 31 cash balance, $3,490

2. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets?

3. What are the budget implications for Craig Kovar?