Income and Expense Statement
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Expense | Money spent
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| Gross Income | Income earned as salary or wages before taxes and other deductions
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| Income | Money received
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| Income and Expense Statement | Includes income and expense transactions that take place in certain time frames
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| Insurance | Product that transfers risk from individual to insurance companies/organization
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| Mortgage | Payment, usually monthly, applied to the balance of a home loan and is used when purchasing housing
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| Net Gain | Income > Expenses
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| Net Income | Take home pay
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| Net Loss | Expenses > Income
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| Savings | Current income not used for spending
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| Wages or Salary Before Deductions | Gross Income
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| Commissions | Money earned based on sales
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| Tips | Money paid as a thanks for services
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| Bonuses | Money earned based on performance
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| Tax Refunds | Money returned from overpaid taxes
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| Intrest Earned | Money earned based on account balances
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| Investment Earnings | Money earned based off of things you invest in
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| Sales of Assets | Selling things you own
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| Money from Savings | Money readily available from savings accounts
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| Money from Investments | Money paid out from investments
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| Scholarships/Grants from Non-Government Sources | Money from private sources to aid in education
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| Money from Others | Gifts
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| Child Support | Money paid by non-custodial parent to aid in the upbringing of children
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| Scholarships/Grants from Government Sources | Money from the government to aid in education
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| Government Programs Such as Social Security and Worker's Compensation | Programs to provide assistance for senior adults and those injured on a job
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
kalyncaudle
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