In your journal, you described a business like a 5 grader in 4 sentences you would create if someone gave you $100 to s tart it. You imagined one transaction in which you spent part of your startup money. You also imagined one transaction in which you earned money. Then you used positive and negative numbers to see how much money you would have after the two transactions had taken place.

Question

In your post, describe your business to your peers:

Explain how your business would work.
Describe the transaction in which you spent money.
Describe the transaction in which you earned money.
State the total amount of money you would have after the two transactions took place.
Then read two of your peers’ descriptions of their businesses. Respond to two of your peers:

For each business, suggest a new transaction that might take place there.
Explain whether the transaction would cost money or earn money.
Represent your transaction for your peer’s business with a mathematical statement.

Answer 1

My Business: "Lemonade and Snack Stand"

My business would be a lemonade and snack stand that I set up in my neighborhood during the weekends. I would sell refreshing lemonade and tasty snacks like cookies and chips to my friends and neighbors. The goal is to make some money while enjoying the sunny weather and spending time outside.

Spending Transaction:
I spent $20 on supplies to set up my stand, which included lemons, sugar, cups, cookie ingredients, and snacks.
Calculation:
$100 (starting money) - $20 (supplies) = $80 remaining.

Earning Transaction:
On the first day of selling, I made $50 from selling lemonade and snacks.
Calculation:
$80 (remaining money) + $50 (earned) = $130 total.

Total Amount After Transactions:
After these transactions, I would have a total of $130.

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Responses to Peers:

Peer 1: "Pet Sitting Business"
I noticed that your pet sitting business is a great idea! A new transaction could be buying pet treats and toys for the pets you care for. This would cost money, but it would also make the pets happier and possibly lead to more customers.
Mathematical Statement:
$50 (initial amount) - $15 (for pet treats) = $35 remaining.

Peer 2: "Crafting and Selling Bracelets"
I love your bracelet business! A potential new transaction could be selling the bracelets at a local craft fair. This would earn you money, as more people would likely buy your crafts.
Mathematical Statement:
$40 (amount after buying supplies) + $60 (earned from craft fair) = $100 total.