In your journal, you described a business you would create if someone gave you $100 to start 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.
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.
Post a detailed response to the Model with Opposite Numbers Discussion prompt. Then respond to two classmates' posts.
Business Description:
My business is a small bakery called "Sweet Delights". We specialize in creating delicious homemade pastries and desserts. Our goal is to provide high-quality, tasty treats to our customers while maintaining an affordable price range.
How the Business Works:
Customers can place orders through our website or by phone for pick-up or delivery. We also have a small storefront where people can come in and purchase our products directly. To start the business, I would use the $100 to buy basic baking ingredients such as flour, sugar, eggs, and butter.
Transaction where money is spent:
In order to get the necessary supplies to bake our pastries, I would need to buy baking ingredients. Let's say I spend $50 on purchasing these ingredients from a local supplier.
Transaction where money is earned:
Once we have the ingredients, we can start baking our delicious treats and selling them to customers. Let's say we sell a batch of cookies for $30.
Total amount of money after the transactions:
After the two transactions have taken place, I would have $100 (initial startup money) - $50 (spent on baking ingredients) + $30 (earned from selling cookies) = $80.
Response to Peer 1 ("Dreamy Florist"):
New transaction suggestion: Offer a flower arrangement workshop for customers to learn how to create their own beautiful bouquets.
Cost or earnings: This transaction would cost money as you would need to purchase additional flowers and materials for the workshop.
Mathematical statement: $80 (initial money) - $40 (spent on flowers and materials for the workshop) = $40.
Response to Peer 2 ("Tech Solutions"):
New transaction suggestion: Provide on-site technical support for clients who need assistance with setting up and troubleshooting their devices.
Cost or earnings: This transaction would earn money as you would be charging a fee for your technical support services.
Mathematical statement: $150 (initial money) - $20 (purchase of additional software) + $50 (earnings from on-site technical support) = $180.
In my journal, I described a business called "Eco-Friendly Cleaning Services". Here's how my business would work:
1. Business Description:
Eco-Friendly Cleaning Services would offer environmentally friendly cleaning solutions for residential and commercial buildings. We would use non-toxic and biodegradable cleaning products to ensure a safe and sustainable cleaning process. Our services would include general cleaning, deep cleaning, and specialized cleaning for specific areas or items.
2. Transaction in which I spent money:
To start the business, I would need to purchase cleaning supplies and equipment. Let's say I spend $50 on eco-friendly cleaning products, such as all-purpose cleaners, glass cleaners, and floor cleaners. Additionally, I would need to buy cleaning tools like mops, brooms, and microfiber cloths, which cost me another $30.
Spending Transaction: -$50 (cleaning products) and -$30 (cleaning tools)
3. Transaction in which I earned money:
To earn money, I would provide cleaning services to customers. For example, let's say I secured a cleaning contract with a small office. I would charge them $80 for a one-time deep cleaning service.
Earning Transaction: +$80
4. Total amount of money after the two transactions:
To calculate the total amount of money after the two transactions, we need to add the earning transaction and subtract the spending transactions:
Total Amount: -$50 (cleaning products) - $30 (cleaning tools) + $80 (earning transaction) = $0
After these transactions, I would have $0, which means I have effectively used up the $100 startup money.
Response to Peer 1:
Business: Customized Meal Prep Services
New Transaction: Delivering weekly meal preps to a local gym for their clients.
Cost or Earning: This transaction would earn money.
Mathematical Statement: +$150 (payment for delivering weekly meal preps to the gym).
Response to Peer 2:
Business: Virtual Tutoring Service
New Transaction: Purchasing new educational software for the virtual tutoring sessions.
Cost or Earning: This transaction would cost money.
Mathematical Statement: -$50 (purchase of new educational software for virtual tutoring sessions).