week 6 profit and loss

This week we talked about profile and loss and I worked out that I saw I was getting a profit. If you are getting more money every week then your costs they you are making a profit e.g. if you started with fifty pounds and at the end of the day you had a hundred pounds then you would have fifty pounds profit but if you started with one hundred pounds and at the end of the day you had fifty pounds then you would have fifty pounds loss.

For my table tennis business it costs five pounds per go and we put five pounds in as well. If we won, then we would be profiting by five pounds but if we lost we would have a loss of five pounds. The profit goes back into the bank for the next session.

I saw how much it is to start the business up and how much the taxes are and how much money we were getting each.

We also watched a short video about the election and I learnt that when you went in you would go to the office and sign your name off then they would give you a slip of parchment with all of the leader’s names on and which each party they are from.