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In this tutorial, we learn to maintain an income and expenditure account in Microsoft Excel. The income is entered on the left side, with the total displayed in the corner, while expenses are recorded separately. If income exceeds expenses, total profit will appear; if expenses are higher, total loss will be shown. If both are equal, both profit and loss will be zero. An example is provided where the total income starts at 35,000. An entry for a bank fixed deposit of 5,000 increases the total income to 40,000. The total expenses noted are 34,200, highlighting how the entries affect the overall account balance.
