At the beginning of the 2014 school year, Jen Lassiter decided to prepare a cash

Question

At the beginning of the 2014 school year, Jen Lassiter 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:

Lassiter can see that her presant plan will not provide sufficient cash. If Lassiter did not budget but went ahead with the original plan l, she would be $???? Short at the end of December, with no time left to adjust.

Explanation / Answer

If Lassiter did not budget but went ahead with Original Plan, She would be in Short of $4500-$4000 = $500

Estimated Cash Receipts from Spetember October November December Part time Job 1450 1450 1450 1450 Deposit 500 Total Cash Receipts 1450 1450 1450 1950 Estimated Cash pyments for Season Football Tickets 150 Addl. Entertainment 300 300 300 300 Tution 4500 Rent 300 300 300 300 Food 180 180 180 180 Deposit 500 Total Cash Payments 5930 780 780 780 Cash Increase/(Decrease) (4480) 670 670 1170 Cash Balance at the Begining of the Month 5970 1490 2160 2830 Cash Balance at the End of the Month 1490 2160 2830 4000

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