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Your mother-in-law heard that you created the budget for the high school reunion picnic and has asked if you could help her to create a monthly household budget. She has created categories for groceries, entertainment, credit cards, mortgage, and utilities. She wants to track her expenses for a couple of months before she creates her budget considering that she has no idea how much she spends in certain areas. While she feels confident in collecting the data and entering it into an Excel workbook, she is unsure of what type of formulas or functions she might need to use and is not sure of the difference between a formula and a function. Explain to your mother-in-law the difference between formulas and functions, and then give her one example of how she might use each in her budget.

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In Excel, the user can use formulas and functions to manipulate numerical data. Formulas and functions, although they have the same purpose, they are different in terms of usability.

A formula is a user-defined equation wherein the user has the control of what the operations will be used and how the equation is arranged. For example, the user can input in cell E1 the formula:
The Excel will add ...

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Accounting: Instructions for the Microsoft Excel Templates

Instructions for the Microsoft Excel Templates

Detail and information on Excel is contained within the manual.

Striking the "F1" key or following the path "Windows>Excel Help" will invoke the Office Assistant
and bring up one of several help menus.

Type your name into the cell to the right of the label "Name." This will be copied by formula to the rest of the pages as required.

Type the due date of your problem into cell to the right of the label "Date."

Type your instructor's name into cell to the right of the label "Instructor."

Type the course identifier into cell to the right of the label "Course."

The problem is identified in the text of the challenge.

In "DATE" cells enter the date in any of several formats and Excel will format it correctly.

If more than one page is preformatted into the problem, page breaks are preset and formulas are
set to copy the header into the remaining pages.

Place the proper account title in the cell where the word "ACCOUNT" appears on the template.

Place the amount in the cell where the word "AMOUNT" appears on the template. A formula may be placed in some of these cells.

Enter a number like 914 to signify units or gallons where the word "NUMBER" appears.

Write a formula into cells where the word "FORMULA" appears. In these cells, an amount calculated outside of Excel can be entered into Excel if desired.

Place the explanation for the entry in the cell where the word "EXPLANATION" appears on the template.

Insert the account number where "ACCT #" appears on the template during posting.

Insert the journal reference where "JOURN #" appears on the template during posting.

Insert the title in the cell where "TITLE" appears on the template.

The print area is defined to fit onto 8 1/2" X 11" sheets in portrait or landscape mode as required.

The gray filled cells define the perimeter of the problem and the print area.

The problem is formatted for whole dollars with comma separations (no cents) except where required.

The display may have "Freeze Pane" invoked so column titles remain visible during data entry.

Negative values may be shown as ($400) vice -$400.

Enter a string like: ($259,417 X 12 months) + (0.3651 X 5,434,631) where the word TEXT appears.

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