Profit and Loss Basics
Clue: This spreadsheet tracks both your revenue and your expenses each month.
What is a spreadsheet
Clue: This payment platform brought in $7,578.09 in revenue in October.
What is Square?
Clue: She prints and stores these to ensure her expenses are trackable in case of an audit.
What are receipts
Clue: She used to wonder, "Where is all my money going?" — now she uses this tool to find out.
What is a spreadsheet?
Clue: This is the term for your earnings after expenses but before taxes.
WHat is net income (pre-tax)
Clue: She received $200 in October from this energy drink brand.
What is Bang energy?
Clue: She spent $478.80 on this category, which includes art prints.
WHat are print supplies?
Clue: She organises her expenses by this, instead of vendor.
What are categories of expense types?
Clue: The creator estimates paying this percentage of their income in taxes.
Answer: What is 40%?
Clue: She used to be sponsored by this live-streaming app but made $0 from it in October.
What is Riff?
Clue: The monthly fee of $46 goes to this website platform.
What is Weebly?
Clue: Her yearly revenue so far is around this amount.
What is $43000
Clue: To calculate after-tax profit, she multiplies her net income by this decimal.
What is 0.6?
Clue: This social media platform paid her $115 for reels in October.
What is Instagram?
Clue: She cancelled her premium membership to this graphic design software.
What is Canva?
Clue: Her average net profit for the year has been approximately this.
What is $26000?
Clue: She realised she needed a profit and loss spreadsheet when applying for this.
What is a home loan or mortgage?
Clue: This international sporting event was included as a potential revenue source but made $0 this month.
Answer: What is the World Athletics Championship?
Clue: Saturday market booth fees totalled this much in October.
What is $200?
Clue: This financial habit has helped her feel more in control of her business money.
What is tracking income and expenses?