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Budget for Ms. Khasu - August 2023

Business/Management

ScanSolve AI Answer

Answer

Total Income

R3740\text{R3740}

Total Expenses

R7260\text{R7260}

Net Balance

-R3520\text{-R3520}

Step-by-step solution

3 steps

Here is the budget for Ms. Khasu for August 2023:

Budget for Ms. Khasu - August 2023

  1. List all sources of income and calculate the total income.

    *   Disability grant: R2 190
    *   Child support grant: R550
    *   Rent income: R1 000
    $$
    \text{Total Income} = \text{R}2190 + \text{R}550 + \text{R}1000 = \text{R}3740
    $$
    Total Income: $\boxed{\text{R3740}}$
    
  2. List all expenses and calculate the total expenses.

    *   Transport cost: R470
    *   Groceries: R4 230
    *   Airtime and data: R330
    *   Electricity and water: R400
    *   Toiletries: R1 190
    *   Funeral insurance: R200
    *   Cleaning materials: R180
    *   Health insurance: R260
    $$
    \text{Total Expenses} = \text{R}470 + \text{R}4230 + \text{R}330 + \text{R}400 + \text{R}1190 + \text{R}200 + \text{R}180 + \text{R}260 = \text{R}7260
    $$
    Total Expenses: $\boxed{\text{R7260}}$
    
  3. Calculate the net balance (Total Income - Total Expenses).

    $$
    \text{Net Balance} = \text{Total Income} - \text{Total Expenses}
    $$
    $$
    \text{Net Balance} = \text{R}3740 - \text{R}7260 = -\text{R}3520
    $$
    Net Balance: $\boxed{\text{-R3520}}$ (This indicates a deficit of R3520)
    
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