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2.4 Budgeting

2.4 Budgeting
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  • 1. Completing a Monthly Budget

    Balance the monthly budget by entering the correct amount in the green cells. (See Example 1 and Example 2.)

    • Worked-Out Solution

      Your actual monthly income is exactly the same as your budgeted monthly income. So, the difference is $0.00.

      By downloading the spreadsheet for this exercise, you can modify the entries to fit your own budget.

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     _____       ___    __    __    ______   ______   
    |  __ \\    / _ \\  \ \\ / //  /_   _// |      \\ 
    | |  \ ||  | / \ ||  \ \/ //    -| ||-  |  --  // 
    | |__/ ||  | \_/ ||   \  //     _| ||_  |  --  \\ 
    |_____//    \___//     \//     /_____// |______// 
     -----`     `---`       `      `-----`  `------`  
                                                      
    
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  • 2. Completing a Monthly Budget

    Balance the monthly budget by entering the correct amount in the green cells. (See Example 1 and Example 2.)

    Comments (0)

    These comments are not screened before publication. Constructive debate about the information on this page is welcome, but personal attacks are not. Please do not post comments that are commercial in nature or that violate copyright. Comments that we regard as obscene, defamatory, or intended to incite violence will be removed. If you find a comment offensive, you may flag it.
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                _____    _    _     ______    ______  
        ___    |  ___|| | |  | ||  /_   _//  /_   _// 
       /   ||  | ||__   | |/\| ||   -| ||-     | ||   
      | [] ||  | ||__   |  /\  ||   _| ||_    _| ||   
       \__ ||  |_____|| |_// \_||  /_____//  /__//    
        -|_||  `-----`  `-`   `-`  `-----`   `--`     
         `-`                                          
    
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  • 3. Completing a Monthly Budget

    Balance the monthly budget by entering the correct amount in the green cells. (See Example 1 and Example 2.)

    • Worked-Out Solution

      Your actual net income is the difference between your actual income and the total of your deductions.

      By downloading the spreadsheet you can modify the entries to fit your own budget.

    Comments (0)

    These comments are not screened before publication. Constructive debate about the information on this page is welcome, but personal attacks are not. Please do not post comments that are commercial in nature or that violate copyright. Comments that we regard as obscene, defamatory, or intended to incite violence will be removed. If you find a comment offensive, you may flag it.
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      ____       ___     _    _     _____     ______  
     |  _ \\    / _ \\  | |  | ||  |  ___||  /_   _// 
     | |_| ||  | / \ || | |/\| ||  | ||__      | ||   
     | .  //   | \_/ || |  /\  ||  | ||__     _| ||   
     |_|\_\\    \___//  |_// \_||  |_____||  /__//    
     `-` --`    `---`   `-`   `-`  `-----`   `--`     
                                                      
    
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  • 4. Completing a Monthly Budget

    Balance the monthly budget by entering the correct amount in the green cells. (See Example 1 and Example 2.)

    Comments (0)

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               __   __    _  _      ___      ______  
      ____     \ \\/ //  | \| ||   / _ \\   /_   _// 
     |    \\    \ ` //   |  ' ||  | / \ ||    | ||   
     | [] ||     | ||    | .  ||  | \_/ ||   _| ||   
     |  __//     |_||    |_|\_||   \___//   /__//    
     |_|`-`      `-`'    `-` -`    `---`    `--`     
     `-`                                             
    
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  • 5. Completing a Monthly Budget

    Balance the monthly budget by entering the correct amount in the green cells. (See Examples 1 and Example 2.)

    • Worked-Out Solution

      This question is a bit tricky. Different budgeting systems handle this type of entry differently. In this system, you need to remember that an expense is money you spend. So a difference of ($5.50) or –$5.50 is an expense of $5.50 that you did not have to make. This means that your actual expense on gasoline and oil was less than you budgeted.

      Note that

      By downloading the spreadsheet, you can modify the entries to fit your own budget.

      Budget Tip

      In this budget system, a red (or negative) entry for income is "bad" because you didn't get as much income as you budgeted.

      A red (or negative) entry expense is "good" because you didn't spend as much as you budgeted.

    Comments (0)

    These comments are not screened before publication. Constructive debate about the information on this page is welcome, but personal attacks are not. Please do not post comments that are commercial in nature or that violate copyright. Comments that we regard as obscene, defamatory, or intended to incite violence will be removed. If you find a comment offensive, you may flag it.
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     _____       ___                ______  __    __  
    |  __ \\    / _ \\      ___    /_   _// \ \\ / // 
    | |  \ ||  / //\ \\    /   ||   -| ||-   \ \/ //  
    | |__/ || |  ___  ||  | [] ||   _| ||_    \  //   
    |_____//  |_||  |_||   \__ ||  /_____//    \//    
     -----`   `-`   `-`     -|_||  `-----`      `     
                             `-`                      
    
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  • 6. Completing a Monthly Budget

    Balance the monthly budget by entering the correct amount in the green cells. (See Example 1 and Example 2.)

    Comments (0)

    These comments are not screened before publication. Constructive debate about the information on this page is welcome, but personal attacks are not. Please do not post comments that are commercial in nature or that violate copyright. Comments that we regard as obscene, defamatory, or intended to incite violence will be removed. If you find a comment offensive, you may flag it.
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      ____      ______     _____     ___      ______  
     |  _ \\   /_   _//   / ___//   / _ \\   /_____// 
     | |_| ||   -| ||-    \___ \\  | / \ ||  `____ `  
     | .  //    _| ||_    /    //  | \_/ ||  /___//   
     |_|\_\\   /_____//  /____//    \___//   `__ `    
     `-` --`   `-----`  `-----`     `---`    /_//     
                                             `-`      
    
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  • 7. Completing a Monthly Budget

    Balance the monthly budget by entering the correct amount in the green cells. (See Example 1 and Example 2.)

    • Worked-Out Solution

      This question is a bit tricky. Different budgeting systems handle this type of entry differently. In this system, you need to remember that an expense is money you spend. So a difference of ($44.25) or –$44.25 is an expense of $44.25 that you did not have to make. This means that your actual expense on entertainment and recreation is 44.25 less than you budgeted.

      Note that

      By downloading the spreadsheet, you can modify the entries to fit your own budget.

      Budget Tip

      In this budget system, a red (or negative) entry for income is "bad" because you didn't spend as much income as you budgeted.

      A red (or negative) entry expense is "good" because you didn't spend as much as you budgeted.

    Comments (0)

    These comments are not screened before publication. Constructive debate about the information on this page is welcome, but personal attacks are not. Please do not post comments that are commercial in nature or that violate copyright. Comments that we regard as obscene, defamatory, or intended to incite violence will be removed. If you find a comment offensive, you may flag it.
    When posting a comment, you agree to our Terms of Use.

     __   _    _    _     ______    _____     _  __  
    | || | || | || | ||  /_   _//  |  ___||  | |/ // 
    | '--' || | || | ||  `-| |,-   | ||__    | ' //  
    | .--. || | \\_/ ||    | ||    | ||__    | . \\  
    |_|| |_||  \____//     |_||    |_____||  |_|\_\\ 
    `-`  `-`    `---`      `-`'    `-----`   `-` --` 
                                                     
    
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  • 8. Interpreting Expenses

    Interpret the difference of the actual and budgeted total expenses. (See Example 2.)

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                ______  __    __     ___      ______  
        ___    /_   _// \ \\ / //   / _ \\   /_____// 
       /   ||   -| ||-   \ \/ //   / //\ \\  `____ `  
      | [] ||   _| ||_    \  //   |  ___  || /___//   
       \__ ||  /_____//    \//    |_||  |_|| `__ `    
        -|_||  `-----`      `     `-`   `-`  /_//     
         `-`                                 `-`      
    
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