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GVT Exercise 1

GVT Exercise 1. Starting Up. Ginny starts the business. She invests $5,000 of her own money, and opens a checking account for Ginny's Vermont Treats (GVT). (For our purposes, money in the checking account is cash.). Starting Up. She buys an oven for $800 (cash).

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GVT Exercise 1

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  1. GVT Exercise 1

  2. Starting Up • Ginny starts the business. She invests $5,000 of her own money, and opens a checking account for Ginny's Vermont Treats (GVT). (For our purposes, money in the checking account is cash.)

  3. Starting Up • She buys an oven for $800 (cash). • She buys a mixing machine for $400 (cash). • She buys $500 worth of confection mix, on credit. • She buys $200 worth of Gift Box packaging, on credit.

  4. Starting Up • She gets busy. Her worker makes 80 gift boxes. • She pays her worker $80 for the labor. • She goes to a farmers' market and sells all the gift boxes for $10 each.

  5. Starting Up • How much money has the business made? • How much does the business OWE? • How much does the business OWN? • How much is the original $5,000 investment WORTH?

  6. Starting Up • Fill out exercise one. When completed, watch the answer on the next video.

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