How to solve Personal Budgeting problem? Transcribed Image Text: Less estimated cash payments for: Total cash payments $ Cash increase (decrease) $ Cash balance at end of month b. Are

How to solve Personal Budgeting problem? Transcribed Image Text: Less estimated cash payments for:
Total cash payments
$
Cash increase (decrease)
$
Cash balance at end of month
b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets?
c. are the budget implications for Priscilla Wescott?
Priscilla can see that her present plan
sufficient cash. If Priscilla did not budget but went ahead with the original plan, she would be $
at the end of December, with no time left to adjust. Transcribed Image Text: Personal Budget
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)
$8,440
Purchase season football tickets in September
120
Additional entertainment for each month
290
Pay fall semester tuition in September
4,600
Pay rent at the beginning of each month
410
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)
1,050
a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except cash decrease which should be indicated with a minus sign.
Priscilla Wescott
Cash Budget
For the Four Months Ending December 31
September
October
November
December
Estimated cash receipts from:
Total cash receipts
Less estimated cash payments for:

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