📊 Part 1: Understanding Accounting Basics

____________ are things the business owns (like equipment, cash, inventory)

____________ are debts the business owes to others

____________ is the owner's claim on the business assets

📈 Part 2: Financial Statements

_____ Revenue from sales

_____ Equipment owned by the business

_____ Rent expense

_____ Money owed to suppliers

_____ Cash in the bank

_____ Advertising costs

• Sales revenue: $8,500

• Rent expense: $2,000

• Food costs: $3,200

• Wages: $1,800

• Electricity: $300

Calculate the café's profit for March:

If a business has Assets of $50,000 and Liabilities of $18,000, what is the Owner's Equity?

💡 Part 3: Application & Reflection

Assets your business might have:

1. _________________________

2. _________________________

3. _________________________

Expenses your business might have:

1. _________________________

2. _________________________

3. _________________________