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Budget for Ms. Khasu - August 2023
Business/Management
ScanSolve AI Answer
Answer
Total Income
Total Expenses
Net Balance
Step-by-step solution
3 stepsHere is the budget for Ms. Khasu for August 2023:
Budget for Ms. Khasu - August 2023
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: $\boxed{\text{R3740}}$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: $\boxed{\text{R7260}}$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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