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Prepare a cash budget for September and October

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Question - At the beginning of the school year, Priscilla Wescott 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)

$8,320

Purchase season football tickets in September

110

Additional entertainment for each month

290

Pay fall semester tuition in September

4,500

Pay rent at the beginning of each month

400

Pay for food each month

230

Pay apartment deposit on September 2 (to be returned December 15)

600

Part-time job earnings each month (net of taxes)

1,030

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

Reference no: EM133172768

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