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

Question

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.

Sometimes an item may be a decrease in one period and an increase in a different period.

Review the definitions of static budgets and flexible budgets.

What weaknesses are shown by this cash budget?

Learning Objective 5.

b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets?
SelectStaticFlexibleCorrect 1 of Item 2

c. Lassiter can see that her present plan Selectwill providewill not provideCorrect 2 of Item 2 sufficient cash. If Lassiter did not budget but went ahead with the original plan, she would be $ SelectovershortCorrect 4 of Item 2 at the end of December, with no time left to adjust.

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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.

Jen Lassiter Cash Budget For the Four Months Ending December 31, 2014 September October November December Estimated cash receipts from: Part-time job $ $ $ $ Deposit Total cash receipts $ $ $ $ Estimated cash payments for: Season football tickets $ Additional entertainment $ $ $ Tuition Rent Food Deposit Total cash payments $ $ $ $ Cash increase (decrease) $ $ $ $ Cash balance at beginning of month Cash balance at end of month $ $ $ $

Cash balance, September 1 (from a summer job) $5,97 Purchase season football tickets in September 15 Additional entertainment for each month 3 Pay fall semester tuition in September 4,5 Pay rent at the beginning of each month 3 Pay for food each month 18 Pay apartment deposit on September 2 (to be returned December 15) 5 Part-time job earnings each month (net of taxes) 1,45

Explanation / Answer

$500.Short

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