Money Matters
A student sells 24 bracelets for $5 each. What is the total revenue?
$120. (24 × $5 = $120)
An individual owns a car worth $4,000, laptop worth $300 and has $600 in savings. What are their total assets?
$4,900
This outdoor clothing brand is named after a mountain face in Yosemite National Park. Its products include jackets, backpacks, and climbing gear.
The North Face.
“Have It Your Way.”
Burger King
A business buys 10 notebooks for $2 each and sells all 10 for $4 each. How much money does it gain after paying for the notebooks?
$20.
What is the formula to calculate. Net gain or Net loss?
Revenue - Expenses = Net GAIN or LOSS
An individual has $7,500 in assets and owes $2,850. What is their net worth?
$4,650. Net worth = assets − liabilities = $7,500 − $2,850.
This company began as a maker of rubber-soled shoes and later became famous for a basketball shoe named after a professional basketball player. The shoe's distinctive circular ankle patch became recognizable around the world.
Converse, specifically the Chuck Taylor All Star
“The Ultimate Driving Machine.”
BMW
Business A collects $900 from sales and spends $600. Business B collects $1,200 from sales and spends $950. Which business has the greater net gain, and by how much?
Business A gains $300. Business B gains $250. Business A's net gain is $50 greater.
A food truck earns $1,850 in revenue. Its expenses are $675 for food, $400 for wages, $300 for truck rental, and $225 for fuel. Does it make a profit or loss, and how much?
$250 profit. Total expenses = $1,600. Profit = $1,850 − $1,600 = $250.
A small business owns equipment worth $6,000, has $2,500 in cash, and owns inventory worth $1,500. It owes a bank $4,000 and owes suppliers another $1,000. Identify its total assets and liabilities, then calculate the owner's equity.
$5,000
This company began as a mail-order catalog business selling outdoor clothing and equipment. It is known for its unusual return policy and its connection to the outdoors.
L.L. Bean
“The Quicker Picker Upper.
Bounty
A student sells 20 bracelets for $5 each. Each bracelet costs $2 to make. How much money does the student gain before any other costs?
$60 gain. Sales are $100, and the bracelets cost $40 to make.
A clothing business sells 65 shirts for $20 each. Each shirt costs $8. The business also pays $275 in rent and $150 in advertising. Find its total revenue, total expenses, and profit.
Revenue = $1,300. Expenses = $945. Profit = $355.
Taylor owns a home worth $210,000, a car worth $15,000, and has $12,000 in savings. Taylor owes $165,000 on the home, $6,000 on the car, and $2,000 on a credit card. Identify Taylor's assets and liabilities, then calculate Taylor's net worth.
$64,000
This Japanese company began in 1889 making hanafuda playing cards. It later became a global name in video games and consoles.
Nintendo
“Belong Anywhere.”
Airbnb
A business sells 30 T-shirts for $10 each. The T-shirts cost $4 each to purchase, and the business pays another $50 for a booth. What is the business’s total gain?
$130 gain.
A school merchandise business sells 85 hoodies for $24 each. Each hoodie costs $11 to purchase. The business also pays $325 for booth rental, $180 for advertising, and $95 for delivery. How much money does the business gain after paying all its costs?
$505
A business owns $12,000 in equipment, $5,000 in inventory, and $3,000 in cash. It owes $6,000 to a bank and $2,000 to suppliers. Calculate the business’s total assets, total liabilities, and owner’s equity.
Total assets: $12,000 + $5,000 + $3,000 = $20,000
Total liabilities: $6,000 + $2,000 = $8,000
Owner’s equity: $20,000 − $8,000 = $12,000
This brand's name was created by combining the words "sound" and "sonic." Before adopting its current name, the company was known as Tokyo Tsushin Kogyo.
Sony
“The Best a Man Can Get.”
Gilette
A student sells 10 hats for $15 each. Each hat costs $6. The student also pays $30 for a table at a school fair. How much money does the student gain after paying all costs?
Answer: $60 gain.
Sales: 10 × $15 = $150
Hat costs: 10 × $6 = $60
Total costs: $60 + $30 = $90
Gain: $150 − $90 = $60