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Personal Budget Excel Guide

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Personal Budget Excel Guide

Use the budget data and spreadsheet layout below to practise Excel skills. All amounts are in Australian dollars. Write formulas exactly as you would enter them in a cell.

Excel terms and references

Match each item with its meaning.

1.Match each Excel item to the correct description.

SUM()
$B$4
B4
=B4-B9
B2

A function that adds values in selected cells
The address of a cell in column B, row 2
A formula that subtracts expenses from income
A reference that changes when copied to another cell
A reference that stays fixed when copied

2.Which Excel function adds the values in cells B2 to B4?

=SUM(B2:B4)
=PLUS(B2:B4)
=TOTAL(B2:B4)
=COUNT(B2:B4)

Build and check a budget

The spreadsheet shows weekly money received and spent by Riley. Use the amounts shown to answer the questions.

Item

Amount (A$)

Weekend work

185

Pet sitting

Total income

=SUM(B2:B3)

Transport

Lunches

Savings contribution

Total expenses

=SUM(B6:B8)

Remaining balance

=B4-B9

3.What is Riley's total weekly income from weekend work and pet sitting?

4.If the income amounts are entered in B2 and B3, write an Excel formula to calculate total income in B4.

5.Calculate Riley's total weekly expenses for transport, lunches and savings.

6.If the three expense amounts are in B6, B7 and B8, write a formula to add them in B9.

7.Riley's total income is in B4 and total expenses are in B9. Write the formula for the remaining balance in B10.

8.After the expenses are paid, how much money does Riley have left?

9.In Excel, what does the dollar sign do in the cell reference $B$4?

It keeps both the column and row fixed when the formula is copied
It changes the cell value into Australian dollars
It adds the values in column B
It marks the cell as containing text

10.True or false: If a formula in C2 uses the relative reference B2, copying it down to C3 will normally change that reference to B3.

TrueFalse

11.Riley wants to set aside another A$15 from the remaining balance. What balance will be left, and what formula could calculate it if the current balance is in B10?