5. In cell C4, enter the following: Per Month. 6. In cell D3, enter the following: Actual Amount. 7. In cell D4, enter the following: July. 8. In cell E3, enter the following: Difference. 9. In cell E4, enter the following:( Better / Worse) 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: 10. In cell A5, enter the following: Salary 11. In cell A6, enter the following: Federal Taxes 12. In cell A7, enter the following: State Taxes 13. In cell A8, enter the following: Available Income 14. Leave cell A9 blank. Leave all other cells in row 9 blank 15. In cell A10, enter the following: Living Expenses: Rent / utilities / groceries / phone 16. In cell A11 through A14, use the example below to determine what should be entered. 17. In cell A15, enter the following: Total Expenses 18. Leave cell A16 blank, and leave all other cells in row 16 blank. 19. In cell A17, enter the following: Savings This is what you should see in your line items list:
Next, let’ s add the Factors: 20. In cell B6, enter the following: 15 % 21. In cell B7, enter the following: 5 % 22. Leave all other cells in column B blank This is how it should appear:
The following set of instructions will help 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. 23. In cell C5, enter the following: 4000 24. In cell C6, enter the following: =+ B6 * C5 Entering this formula will tell Excel to multiply the 15 % federal tax rate within cell B6 by the $ 4,000 monthly amount in C5, which will return a $ 600 federal tax cost. 25. In cell C7, enter the following: =+ B7 * C5 Entering this formula will tell Excel to multiply the 5 % state tax rate within cell B7 by the $ 4,000 monthly amount in C5, which will return a $ 200 state tax cost. 26. In cell C8, enter the following: =+ C5-C6-C7 Entering this formula will tell Excel to subtract the federal and state tax amounts from the salary amount to determine the monthly available income of $ 3,200 after taxes. Continue with the following instructions to enter the remaining data and