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Educational worksheet for students to identify income and expenses in a financial tracking exercise.

Income and expense tracking report worksheet with illustrations of a piggy bank, a transaction at a counter, and coins, showing the formula: Income - Expense = Balance.

Income and expense tracking report worksheet with illustrations of a piggy bank, a transaction at a counter, and coins, showing the formula: Income - Expense = Balance.

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Show Answer Key & Explanations Step-by-step solution for: income and expense (page 59) worksheet
To solve this problem, we need to look at each sentence and decide if money is coming in (Income) or going out (Expense).

* Income means you receive or earn money. Look for words like "sell," "gives me," "win," or "receive."
* Expense means you spend or pay money. Look for words like "buy," "pay," or "cost."

Let's go through them one by one:

1. "I sell some old newspaper..." → You are selling something to get money. This is Income.
2. "Aunty Carol gives me..." → Someone is giving you money. This is Income.
3. "I buy snacks..." → You are spending money to get food. This is Expense.
4. "I buy a bag of rice..." → You are spending money to get rice. This is Expense.
5. "I pay... for my mobile bill." → You are paying a bill. This is Expense.
6. "I win a lottery prize." → You won money. This is Income.
7. "I buy one popsicle..." → You are spending money on a treat. This is Expense.
8. "My mother gives me..." → Someone is giving you money. This is Income.
9. "Teacher gives me..." → Someone is giving you money. This is Income.
10. "I pay... for lunch." → You are spending money on food. This is Expense.

Final Answer:
1. Income
2. Income
3. Expense
4. Expense
5. Expense
6. Income
7. Expense
8. Income
9. Income
10. Expense
Parent Tip: Review the logic above to help your child master the concept of income and expense worksheet.
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