Show Me How At the beginning of the school year, Priscalla Wescott decided to pr

Question

Show Me How At the beginning of the school year, Priscalla Wescott decided to prepare a cash budget for the months of September, October, November, and December. The 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) $6,260 Additional entertainment for each month Pay fall semester tuition in September Pay rent at the beginning of each month 3,400 Pay apartment deposit on September 2 (to be returned December 15) Part-time job earnings each month (net of taxes) with a minus sign Priscilla Wescott Cash Budget For the Four Months Ending 31 Next

Explanation / Answer

(B)these four monthly budget are flexible budget.

(C)Priscilla can see that her present plan has sufficient cash.

Cash budget September October November December Part time earning 780 780 780 780 Apartment deposit 400 Total receipt 780 780 780 1180 Purchase seasonal football (90) Entertainment (220) (220) (220) (220) Tuition fees (3400) Rent (300) (300) (300) (300) Food expenses (170) (170) (170) (170) Apartment deposit (400) Total (4580) (690) (690) (690) Cash increase (decrease) (3800) 90 90 490 Opening cash balance 6260 2460 2550 2640 Closing cash balance 2460 2560 2640 3130

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