ADMS 2510 Lecture 1: 70 IELTS Speaking Samples Part 2 Forecast 9 - 12
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At the beginning of the 2016 school year, Britney Logan decidedto prepare a cash budget for the months of September, October,November, and December. The budget must plan for enough cash onDecember 31 to pay the spring semester tuition, which is the sameas the fall tuition. The following information relates to thebudget:
Cash balance, September 1 (from a summer job) | $8,130 |
Purchase season football tickets in September | 110 |
Additional entertainment for each month | 280 |
Pay fall semester tuition in September | 4,400 |
Pay rent at the beginning of each month | 390 |
Pay for food each month | 220 |
Pay apartment deposit on September 2 (to be returned December15) | 600 |
Part-time job earnings each month (net of taxes) | 1,010 |
a. Prepare a cash budget for September,October, November, and December. Enter all amounts as positivevalues except an overall cash decrease which should be indicatedwith a minus sign.
BritneyLogan | ||||
CashBudget | ||||
For the FourMonths Ending December 31, 2016 | ||||
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 | $ | $ |
c. Brittany can see that her present planwill not provide sufficient cash. If Logan did notbudget but went ahead with the original plan, she would be $short at the end of December, with no time left toadjust. thats all format
Personal Budget
At the beginning of the 2016 school year, Britney Logan decidedto prepare a cash budget for the months of September, October,November, and December. The budget must plan for enough cash onDecember 31 to pay the spring semester tuition, which is the sameas the fall tuition. The following information relates to thebudget:
Cash balance, September 1 (from a summer job) | $6,500 |
Purchase season football tickets in September | 90 |
Additional entertainment for each month | 230 |
Pay fall semester tuition in September | 3,500 |
Pay rent at the beginning of each month | 320 |
Pay for food each month | 180 |
Pay apartment deposit on September 2 (to be returned December15) | 500 |
Part-time job earnings each month (net of taxes) | 810 |
a. Prepare a cash budget for September,October, November, and December. Enter all amounts as positivevalues except an overall cash decrease which should be indicatedwith a minus sign.
BritneyLogan | ||||
CashBudget | ||||
For the FourMonths Ending December 31, 2016 | ||||
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 | $ | $ | $ | $ |
b. Are the four monthly budgets that arepresented prepared as static budgets or flexible budgets?
c. Brittany can see that her present plansufficient cash. If Logan did not budget but went ahead with theoriginal plan, she would be $ at the end of December, with no timeleft to adjust.