Posted: February 25th, 2024

Develop a Worksheet in MS Excel the Details of Your Personal Expenses

Question description

Assignment 2: Expenses Worksheet in Excel
Before beginning this assignment, you should thoroughly review Excel Worksheets, Charts, Formulas, Functions, and Tables from your course textbook, Go! All in one: Computer concepts and application.
 
For this assignment you will use Microsoft Excel to develop a
worksheet that details your personal expenses in at least four
categories from the last three months. Some of these expense categories
might include, but are not limited to, Mortgage, Rent, Utilities, Phone,
Food, Entertainment, Tuition, Childcare, Clothing, and
Insurance. (These numbers may be fictitious.)Part 1: The Spreadsheet
Begin by opening a new Microsoft Excel file. (You may use the template found here.) Save it as LastnameFirstInitial_M3_A2.xls. Use Rows 1 and 2 for a title. Beginning in row 4, use column A to list your different expenses. Label the next three columns (B, C, D) for the past three months. Fill in the appropriate amount for each expense for each month. Beside the column with your third month’s entries, create another column for totals for each category.
Use a formula to calculate a total for each category of expense.  In the row below your last expense entry, create another row for the monthly totals of expenses.
Use a formula to calculate a total for each month of expenses. Beside the column add another column for calculating the percent of the budget for each expense category.
Use a formula to calculate the percent that each expense category is of the total expenditures. Format the worksheet by adjusting column widths and
wrapping text, and by applying appropriate financial number formatting
and cell styles.  Please Note: While
some calculations might be easy to do in your head or using a
calculator—merely typing the answer into the appropriate cell—the point
of this assignment is to get you accustomed to using formulas. In
situations requiring frequently updated data or more complex
calculations, Excel is a very powerful tool if you know how to use it. Your grade is based on your demonstrated ability to use the required formulas.Part 2: The Chart
Below your table of monthly expenses, you will create a
chart using the numbers from your spreadsheet similar to the example
below.

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Open the Insert ribbon at the top of the screen. Click on a populated cell inside your spreadsheet,
then, click on Column on the Insert ribbon. Select the style of column
chart you like.  Click and drag your column chart into position below your spreadsheet. Save your file as LastnameFirstinitial_M3_A2.xls. Submit this document to the M3: Assignment 2 Dropbox by Tuesday, March 18, 2014.
Suggested challenge for intermediate users: Add a row or
rows detailing your income and subtract the total expenditures from the
total income.
Suggested challenge for advanced users: Use a formula,
function, or combination of both to show your net gain or loss (income
minus expenses summed over time) for the three-month period.
Assignment 2 Grading Criteria

Maximum Points

Submitted an .xls file with a spreadsheet labeled and populated according to the directions.

20

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Included calculated totals for each month and each category.

40

Included formulas to calculate each expense category's percentage of the total expenditures.

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40

Formatted the worksheet by
adjusting column widths and wrapping text, and by applying appropriate
financial number formatting and cell styles.

20

Included a column or bar graph comparing expenses for each month.

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40

Accurately portrayed numbers from the expenses spreadsheet in the chart.

20

Formatted the chart for visual appeal.

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Total:

200

Let me know if you are able to do this! Thank you Top of the Class!

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