Budgeting items: • The principal's salary is fifty thousand dollars ($50,000.00) per month. THREE (3) teachers with a salary of thirty thousand dollars ($30,000.00) each per month. The cook and the janitor are paid seven thousand dollars ($7,000.00) weekly. • The school fee is fifteen thousand, five hundred dollars ($15,500.00) per term and there are seventy (70) students enrolled. The cost of lunch is one thousand dollars ($1,000.00) weekly. The school receives a grant of sixty thousand dollars ($60,000.00) each term from the Ministry of Education. Utility, maintenance and miscellaneous should be included. ● Requirement: A) Identify at least THREE (3) types of budgets. B) Discuss at least TEN (10) benefits of budgeting C) Use the information provided to create a Budget

Budgeting items: • The principal's salary is fifty thousand dollars ($50,000.00) per month. THREE (3) teachers with a salary of thirty thousand dollars ($30,000.00) each per month. The cook and the janitor are paid seven thousand dollars ($7,000.00) weekly. • The school fee is fifteen thousand, five hundred dollars ($15,500.00) per term and there are seventy (70) students enrolled. The cost of lunch is one thousand dollars ($1,000.00) weekly. The school receives a grant of sixty thousand dollars ($60,000.00) each term from the Ministry of Education. Utility, maintenance and miscellaneous should be included. ● Requirement: A) Identify at least THREE (3) types of budgets. B) Discuss at least TEN (10) benefits of budgeting C) Use the information provided to create a Budget

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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