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Excel budget spreadsheet tracking income and expenses.

A screenshot of an Excel spreadsheet showing a simple budget with columns for Date, Description, Money In, and Money Out, including entries for starting balance, gas bill, and water bill.

A screenshot of an Excel spreadsheet showing a simple budget with columns for Date, Description, Money In, and Money Out, including entries for starting balance, gas bill, and water bill.

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Show Answer Key & Explanations Step-by-step solution for: Excel Create an Income and Expenditure Spreadsheet
To find the missing "Money Out" value, we need to balance the account so that the total money coming in equals the total money going out.

Step 1: Calculate Total Money In
Look at column C ("Money In"). The values are:
* $1395 (Starting Balance)
* $1200 (Water Bill refund/payment?)

Add these together:
$$1395 + 1200 = 2595$$
The spreadsheet already shows this total in cell C8 as 2595.

Step 2: Calculate Known Money Out
Look at column D ("Money Out"). The known values are:
* $50 (Gas Bill)
* $35 (Water Bill)

Add these together:
$$50 + 35 = 85$$

Step 3: Find the Missing Value
For the account to balance (assuming the starting balance was used up or the totals must match), the Total Money Out must equal the Total Money In.

* Total Money In = $2595
* Current Total Money Out = $85

Subtract the current Money Out from the Total Money In to find what is missing:
$$2595 - 85 = 2510$$

So, the missing value for the Water Bill in the "Money Out" column is 2510.

*(Note: This implies the Water Bill cost $2510, and the $1200 in "Money In" might be a separate transaction or error in typical budgeting logic, but mathematically, to make the column totals equal, the missing number is 2510.)*

Final Answer:
2510
Parent Tip: Review the logic above to help your child master the concept of income and expense worksheet.
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