2. Lesson Information
Subject
Math
Standards
MGSE.7.NS –Apply and extend previous understandings of addition and subtraction to add and subtract
rational numbers; represent addition and subtraction on a horizontal or vertical number line diagram.
Grade
7th Grade
Unit of Study
Unit 1: Operations with Rational Numbers
Lesson for the day
“FreTown Bank Ledger”
3. Content Objective
SWBAT use a table (or check register) to
record debits and credits and calculate a
running total balance.
5. Formative Assessment
Situation: In this lesson, the student will be managing
their own Bank Ledger, after gaining the new position as
Chief Financial Officer for “FreTown Records.”
Challenge: In order to prevent “FreTown Records” from
filing bankruptcy, the student will have a responsibility to
analyze the current financial situation. First, the student
will need to balance the accounting ledger for “FreTown
Records”. Next, the student will need to compare and
contrast “FreTown Records” royalties offer to a
competing company. Then, the student will compare two
business solutions and determine the best solution for
FreTown Records. Finally, the student will create a
proposal outlining the final decision to correct the
financial instability. The proposal must show how
FreTown Records should generate income by creating
growth.
Student Directions: Create a table to sort and organize the expenses and
income of “Bling Records”. There are two types of transactions that may take
place, (1) deposits (money the company receives), and (2) debits/payments
(money which the company spends and withdrawal from the account). If the
total amount of credits is more than debits, the account balance is positive. If
the total amount of debits are more than credits, the account balance is in
debt and shows a negative cash value.
1. Use the table record each transaction:
2. Transactions (Determine if the transaction is a withdrawal or deposit)
On August 15, the beginning balance was $50,000.00
On August 16, paid for rental of studio time $2,000.35
On August 16, paid for manufactured CD $162,050.03
On August 16, received proceeds from concert ticket sales $25,000
On August 17, received $22,000 in endorsements
On August 17, paid for artist clothing allowance $3,350.00
On August 18, paid for publishing $6,000
On August 19, received proceed from download $5,098.99
3. Use the table to determine the beginning and ending balance, and
state if the company made a profit or remained in debt.
4. What is the total running balance?
5. In what ways is it useful to develop an algorithm for adding and
subtracting rational numbers?
6. How would you interpret the total running balance?
6. References
Grade 7, Unit 1. Retrieved from http://www.dekalbschoolsga.org/curriculum/dcsd-
curriculum/mathematics/grade-7/
