IXL | Keeping financial records

Josh keeps this financial record:

Date	Description	Received	Expenses	Available Funds
	Balance: end of July			$ 76.05
8/2	face paints		$ 2.65	$ 73.40
8/9	balloons		$ 9.70	$ 63.70
8/10	party clown	$	$	$

On August 10, Josh received

45.00

for performing as a party clown. Complete that row in the record.

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Learn with an example

question

Richard keeps this financial record:

Date	Description	Received	Expenses	Available Funds
	Balance: end of December			$ 330.10
1/12	bowling		$ 11.25	$ 318.85
1/23	chocolate bar		$ 2.30	$ 316.55
1/26	shoveling snow	$	$	$

On January 26, Richard shoveled snow for his neighbor and received

20.00

Complete that row in the record.

key idea

A financial record can help you track your available funds, or the amount of money you have.

Income is money you receive. It gets added to your available funds.

An expense is money you spend. It gets subtracted from your available funds.

solution

On January 26, Richard shoveled snow for his neighbor and received

20.00

That is income. So, find the row for 1/26 and enter

20.00

in the Received column.

Date	Description	Received	Expenses	Available Funds
	Balance: end of December			$ 330.10
1/12	bowling		$ 11.25	$ 318.85
1/23	chocolate bar		$ 2.30	$ 316.55
1/26	shoveling snow	$ 20.00

Before shoveling snow for his neighbor, Richard had

316.55

in available funds. Add

20.00

to find the available funds afterward.

316.55

20.00

336.55

Now, complete the Available Funds column:

Date	Description	Received	Expenses	Available Funds
	Balance: end of December			$ 330.10
1/12	bowling		$ 11.25	$ 318.85
1/23	chocolate bar		$ 2.30	$ 316.55
1/26	shoveling snow	$ 20.00		$ 336.55

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