Question

Budgeting is useful to many different types of entities. One is the individual. Consider someone who has just graduated from college and earns $48,000 per year, is unmarried, and has no children. Prepare a cash budget for this college graduate, showing all revenues and expenses. Identify possible sources of cash and the amount to be received from each. Identify the costs such a person is likely to incur during the year. You can assume that cash disbursements are made immediately for all expenses.

Answer 1