One of my all time favorite comedies is The Hangover. It is the story of four friends – Alan, Stu, Doug & Phil going to Las Vegas for an (un)forgettable night of adventure and mayhem. While the movie did end on a happy note, they forgot one little thing.
They didn’t share the expenses!
So in this installment of Excel Homework, can you split the expenses?
The Problem
Assuming you have below data (feel free to copy paste it in to your Excel, or use this workbook):
Expense Details
Phil: 255.12,121.29,160.23
Alan: 43.17,226.76,343.66,358.01
Phil: 159.95,177.56,278.37
Stu: 206.51,188.09,244.68,33.21,152.98
Phil: 285.91,306.4,140.68
Doug: 226.76,226.76,169.6,208.67
Phil: 326.4
Phil: 308.43,224.95,102.33
Phil: 168.64
Stu: 259.93
Stu: 121.29
Stu: 177
Alan: 172.23
Alan: 214.04,162.58,205.66,188.16,128.41
Alan: 62.75,160.51,173.34,283.8
Phil: 356.3,361.34,41.35,255.94,67.42
Stu: 168.25,161.28,248.45
Doug: 163.93,308.43,218.58
Phil: 226.04,265.97,140.81,197.45
Doug: 216.79,180.39,246.65,149.55
Your need to generate a a table like this to show who needs to pay whom & how much.
Get cracking then!
Sample file & Your Solution:
Click here to download the sample file with the expenses data.
You can use any Excel feature to come up with the answer.
Tell me how you solved it using the comments box below 👇
Watch my solution:
I made a video about this problem and one approach to solve it (using Power Query and Dynamic Array Formulas). Check it out below or on my Channel.
More homework problems:
Need a challenge? I got one or many for you:
One Response to “Loan Amortization Schedule in Excel – FREE Template”
The balance formula as given doesnt seem to work on my excel