Question

Home Insen Draw Page Layout Formulas Data Review View Help Asignment Tell me what you want to do 2 Logical AutoSum Lookup & Reference- CB Define Name Trace Precedents 9Show Formulas Recently Used A Text Math & Trig- Trace Dependents Error Checking Use in Formula rt Name Watch Calculation Date & Time More Functions on Financial- Remove Arrows Create from Selection Evaluate Formula Manager Options Window Function Library Defined Names Formula Auditing Calculation www. Assignment Tasks X A Budget Jun Create a named range called, "Income" that references the cell that calculates the total 1 Line of Credit Needed nee income in your budget. [3 points] Than December April February January March Мay June Beginning Cash Balance $5,000.00 Cash Inflows (Income): Customer Payments $35,000.00 $45,000.00 $53,000.00 $64,680.00 $76,540.00 $90,540.00 $52,000.00 $62,000.00 $73,500.00 $ 86,000.00 $100,600.00 $117,700.00 Cash Sales Total Cash Inflows Cash Outflows (Expenses): Advertising Loan Interest $20,000.00 $30,000.00 $35,000.00 $40,000.00 $50,000.00 $60,000.00 Insurance Inventory Purchases Office Supplies Payroll $4,500.00 $46,000.00 $53,000.00 $54,500.00 $59,800.00 $71,900.00 $83,300.00 $3,200.00 $11,000.00 $12,000.00 $13,500.00 $18,100.000 $17,700.00 $23,200.00 $12,000.00 $12,000.00 $12,000.00 $12,000.00 $12,000.00 $12,000.00 $2,700.00 $4,500.00 $4,500.00 $4,500.00 $4,500.00 $4,500.00 $3,200.00 $3,200.00 $3,500.00 $4,000.00 $4,000.00 Rent or Lease $3,200.00 $3,000.00 $3,100.00 Utilities & Telephone Total Expenses $3,500.00 $5,000.00 CashFlow Budget Cellular Calls Data Messages ITT 11:24 Type here to search 6/7/2
The question asks to create a named range “income” that references the cell that calculates the total income in the budget sheet pictured above. Im just having trouble understanding since there is no total income cell.

Answer 1

Solution

Cash Inflows called Income

first calculate the total cash inflows using autosum

Home Page Layout Formulas Data Review Power Pivot File Insert View Tell me what you want to do... AutoSum Cut Wrap Text General ECopy Paste Fill === EE Merge & Center Conditional Format as Cell Formatting BIU EB Insert Delete Format A Format Painter Clear Table Styles Clipboard Font Alignment Number Styles Cells Editin - SUM (C6 : C7 ) fx SUM C D E F G M N p A H. K L C 1 2. 3. 4. Cash Mar May January Feb Apr Jun Inflow 5 Customer Payments 35000 45000 53000 64680 76540 90540 6 Cash 52000 62000 73500 86000 100600 117700 Sales 7 Total Cash Inflows =SUM(C6:C7 SUM(number1, [number2], .. 8 10 11

now drag it to right side for rest of the cell

Clipboard Font Alignment Nur fx X -SUM(D6:D7) D8 A C F F G H 1 2 4 Cash May Mar Apr Jun January Feb Inflow Customer Payments 35000 45000| 53000| 64680| 76540 90540 6 Cash 52000 62000| 73500 86000 100600 117700 Sales 7 Total Cash Inflows 87000 107000|126500|150680|177140|208240 8 10 co et

now we are going to create a named range called income

first select range

then go to formulas tab

then go to define names group

type income

then

press ok

Page Layout Home Insert Formulas Data Review View Power Pivot Tell me what you want to do... File 2 A fx Define Name Show Formu Trace Precedents Trace Dependents Use in Formula Error Checkin Insert AutoSum Recently Financial Logical Text Date & Lookup & Math & Time Reference More Name Evaluate Forr ManagerCreate from Selection Remove Arrows Function Trig Functions Used Function Library Formula Auditing Defined Names -SUM(C6:C7) C8 New Name A C L M Name: incomel 1 Scope: Workbook 2 Comment 3 4 Cash Inflow Customer Payments Apr Mar January Feb 5 Refers to: -Sheet1!SC$8:SH$8 35000 45000 53000 64680 OK Cancel 6 Cash 52000 62000 73500 86000|100600|117700 Sales 7 Total Cash Inflows 87000 107000|126500|150680|177140|208240 8 9 10 11 X co

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all the best