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Budget Sheet for the Semester showing monthly expenses and income.

Excel Practice Worksheets - Colaboratory

Educational worksheet: Excel Practice Worksheets - Colaboratory. Download and print for classroom or home learning activities.

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Show Answer Key & Explanations Step-by-step solution for: Excel Practice Worksheets - Colaboratory
It looks like you've uploaded a screenshot of an Excel spreadsheet titled "Budget Sheet for the Semester", which is currently in read-only mode. The goal appears to be completing or analyzing this budget sheet by calculating missing values, particularly:

- Total Monthly Expenses (Row 13)
- Total Monthly Income (Row 15)
- Monthly Balance (Row 17)

However, the income data is missing, so we can only calculate expenses and note that income needs to be added.

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🔍 Step-by-step Solution



#### Step 1: Calculate Total Monthly Expenses (Row 13)

We need to sum up all the expenses for each month (Sept, Oct, Nov, Dec) across rows 5–11.

Let’s compute column-wise totals.

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##### September (Column B):
- Tuition and Fees: 1300
- Books: 240
- Rent: 250
- Utilities: 60
- Food: 160
- Transportation: 120
- Miscellany: 100
Total Sept = 1300 + 240 + 250 + 60 + 160 + 120 + 100 = 2230

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##### October (Column C):
- Tuition and Fees: 0 (missing, assume 0 if not recurring monthly)
- Books: 0 (assumed one-time)
- Rent: 250
- Utilities: 60
- Food: 160
- Transportation: 120
- Miscellany: 100
Total Oct = 250 + 60 + 160 + 120 + 100 = 690

> ⚠️ Note: Tuition and books are likely one-time expenses. If they’re only paid once, they should only appear in September.

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##### November (Column D):
- Rent: 250
- Utilities: 60
- Food: 160
- Transportation: 120
- Miscellany: 100
Total Nov = 250 + 60 + 160 + 120 + 100 = 690

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##### December (Column E):
- Rent: 250
- Utilities: 60
- Food: 160
- Transportation: 120
- Miscellany: 100
Total Dec = 250 + 60 + 160 + 120 + 100 = 690

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Now, fill in Row 13 – Total Monthly Expenses:
- Sept: 2230
- Oct: 690
- Nov: 690
- Dec: 690

> 💡 Note: The "Tuition and Books" are only listed in September, suggesting they're one-time payments.

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#### Step 2: Calculate Total Expense for Each Month (Row 13)

| Month | Total Monthly Expenses |
|-----------|------------------------|
| Sept | 2230 |
| Oct | 690 |
| Nov | 690 |
| Dec | 690 |

So in Excel, enter:
- `B13`: `=SUM(B5:B11)` → 2230
- `C13`: `=SUM(C5:C11)` → 690
- `D13`: `=SUM(D5:D11)` → 690
- `E13`: `=SUM(E5:E11)` → 690

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#### Step 3: Total Monthly Income (Row 15)

This is missing in the current sheet. You would need to input your monthly income (e.g., from a job, allowance, scholarships).

For example, if you earn $1500 per month:
- Enter `1500` in cells B15, C15, D15, E15

Then total income per month would be $1500.

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#### Step 4: Monthly Balance (Row 17)

This is calculated as:
> Income - Expenses

So:
- Sept: 1500 - 2230 = -730 (deficit)
- Oct: 1500 - 690 = 810
- Nov: 1500 - 690 = 810
- Dec: 1500 - 690 = 810

In Excel:
- `B17`: `=B15 - B13`
- `C17`: `=C15 - C13`
- etc.

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📊 Final Budget Summary



| Category | Sept | Oct | Nov | Dec | Total |
|------------------------|--------|------|------|------|-------|
| Expenses | 2230 | 690 | 690 | 690 | 4300 |
| Income | 1500 | 1500 | 1500 | 1500 | 6000 |
| Monthly Balance | -730 | 810 | 810 | 810 | 1700 |

> 💡 Note: This assumes $1500 monthly income. Adjust based on actual income.

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Recommendations



1. Add Income Data – Without it, balance cannot be computed.
2. Clarify One-Time vs. Recurring – Tuition and books are likely one-time.
3. Use Formulas – Use `SUM()` for totals and `=Income - Expenses` for balance.
4. Format Currency – Apply currency format to all monetary values.

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How to Update in Excel



1. In cell B13, type: `=SUM(B5:B11)`
2. Copy formula to C13:E13
3. Enter income values in B15:E15 (e.g., 1500)
4. In B17, type: `=B15-B13`, then copy across
5. Format cells as Currency (Home > Number > Currency)

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Let me know if you want help adding formulas or formatting!
Parent Tip: Review the logic above to help your child master the concept of excel practice worksheets.
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