Part I. Cash Flow Statement



Skills ChallengeChapter 3 – BudgetingPart I. Cash Flow StatementFor this part of the skills challenge, you will take the information given about purchases and deposits into a checking account and you will balance the check register for the month of March. The owner of the account has a beginning balance of $636.50.Deposits:3/1 – Paycheck $$1,845.703/ 10 – Reimbursement $250.003/16 – Paycheck $1,845.70Withdrawals:3/8 – ATM $80.003/20 – ATM $100.00Utilities:3/2 – Mortgage (Citi Financial) $897.30**3/6 – First Coast Power $97.70**3/17 – City Water Services $66.00**3/25 – Tarpon Natural Gas $64.53**Grocery:3/5 – Ingles $75.783/12 – Ingles $82.453/20 – Ingles $43.563/28 – Ingles $120.43Minor Expenses:3/5 – Verizon $49.993/5 – Charter $1093/29 – ADT $39.99**3/7 – Visa $130.703/9 – 7/11 $45.003/18 – Shell $48.003/29 – BP $46.00Disposable:3/7 – Kanpai of Tokyo $45.003/18 – Chili’s $26.003/22 – Longhorn’s $33.003/30 – El Titanic - $12.003/10 – Lowes $26.003/15 – Belk $46.163/19 – Dillards $35.00**3/26 – JC Penny $47.87** Begin checks with number 432DateTypeDescriptionCreditDebitTotal3/1Beginning Balance - MarchPart II. Zero Based Budget (Monthly Pay Period)Complete a monthly budget for Sally based on the information below:Monthly Income - $2600Charitable Contributions - $260Savings - $50Rent Payment - $450Grocery Average - $125Power Bill - $185.29Gas Bill - $36.63Water Bill - $58.25Credit Car Debt - $200.00Car Payment - $229.35Gasoline - $185.00Charter - $99.00Cell Phone Bill - $76.32Budget AreasBudget ItemsAmount BudgetedAmount LeftBeginning BalanceDeposit to Account$$Part III. Zero Based Budget (Biweekly Pay Period)Help Matthew create a zero-based budget for his income and expenses for a month in which he gets paid twice.Monthly Income - $4200Charitable Contributions - $400Savings - $400Mortgage Payment - $950Grocery Average - $215Power Bill - $175.00Gas Bill - $90.00Water Bill - $61.00Credit Car Debt - $320.00Car Payment - $425.00Gasoline - $230.00Charter - $99.00Cell Phone Bill - $147.361st Pay PeriodBudget AreasBudget ItemsAmount BudgetedAmount LeftBeginning BalanceDeposit to Account$$2nd Pay PeriodBudget AreasBudget ItemsAmount BudgetedAmount LeftBeginning BalanceDeposit to Account$$ ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download