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What are the budget implications for robert logan

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Question - At the beginning of the 2019 school year, Bob 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:

Cash balance, September 1 (from a summer job) $6,810

Purchase season football tickets in September 250

Additional entertainment for each month 200

Pay fall semester tuition on September 3 4,500

Pay rent at the beginning of each month 450

Pay for food each month 300

Pay apartment deposit on September 2 (to be returned December 15) 600

Part-time job earnings each month (net of taxes) 1,300

Required -

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

b. Are the four monthly budgets that are presented prepared as static or flexible budgets?

c. What are the budget implications for Robert Logan?

Reference no: EM133164771

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