Prepare a Personal SCI: • Get one whole sheet of paper • Write your monthly allowance (school year prior to Pandemic which is computed by daily allowance x number of days in a month) • Write the amount you spend on food, transportation, phone load, etc

Accounting Nov 12, 2021

Prepare a Personal SCI: • Get one whole sheet of paper • Write your monthly allowance (school year prior to Pandemic which is computed by daily allowance x number of days in a month) • Write the amount you spend on food, transportation, phone load, etc. (make it monthly to match your allowance) • Deduct the amount you spend from the amount your allowance Associate your allowance with revenue and spending with expense with the net amount as net income .