As indicated in the guidance for Week 3 Excel can be used for many purposes. For example, Excel can be used to develop and track your personal income and expenses

As indicated in the guidance for Week 3 Excel can be used for many purposes.  For example, Excel can be used to develop and track your personal income and expenses against a monthly budget.  Assume a family has developed a monthly budget and desires to compare actual expenses for July to their budget. Before we begin, we use the formula (Actual – Budget) and for we use the formula (Budget – Actual).  We do this because we are trying to determine whether the difference or variance is better or worse.  It is better to earn a higher salary but it is worse to spend more than budget. Here are the detailed instructions: Be sure to expand the columns so that the contents don’t overlap the adjacent columns. At this point, this is what your spreadsheet should look like: The following set of instructions will build your line items list: This is what you should see in your line items list: Next, let’s add the Factors: This is how it should appear: The following set of instructions will you create formulas in your spreadsheet. Excel has built in formulas to make calculating data easier. Formulas always begin with the equal sign (=) which tells Excel that a formula is being entered. This is what your spreadsheet to this point should look like: To see all the formulas you’ve entered into the spread sheet, click on the Tab and select to see the formulas. This is what the formulas should look like in the spreadsheet: Click again to return to the normal spreadsheet view. Then make the selections indicated in the options box pictured below. These selections will remove the decimals and add a dollar sign to the columns. To view a brief ‘How To’ video for creating a chart in your spreadsheet, click on the video below. Your columns should look similar to this: Select 2-D Column In Microsoft Office version 2010 and prior, you will see the Chart Tool activated at the top of the screen for the formatting elements. Click the chart and press the key (F1) in Microsoft Office to open  the function for the options available in your version. This is a clip of Microsoft version 2010 for your reference: In the , you should then see something similar to the following graphic Your finished spreadsheet should look similar to this example: Purchase the answer to view it