At the beginning of the 2014 a school year, Britney Logan decided to prepare a c

Question

At the beginning of the 2014 a school year, Britney Logan 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: 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.

Explanation / Answer

Britney Logan Cash Budget For the Four Months Ending December 31,2014 September October November December Estimated cash receipt from : Part-time job $980 $980 $980 $980 Deposit $500 Total cash receipts $980 $980 $980 $1,480 Estimated cash payment for: Season football tickets ($110) Additional entertainment ($270) ($270) ($270) ($270) Tuition ($4,200) Rent ($380) ($380) ($380) ($380) Food ($220) ($220) ($220) ($220) Deposit ($500) Total cash payments ($5,680) ($870) ($870) ($870) Cash increase (decrease) ($4,700) $110 $110 $610 Cash balance at beginning of month $7,870 $3,170 $3,280 $3,390 Cash balance at end of month $3,170 $3,280 $3,390 $4,000

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