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    Accounting Basics – Running a Lemonade Stand

    What is accounting, and why should you care? Imagine this: Alex, a 10-year-old entrepreneur, wants to start a lemonade stand in his neighborhood. He’s excited to sell cups of lemonade and make money. But after a few days, Alex realizes something… 💭 “I sold a lot of lemonade, but I don’t know if I actually made money! Did I spend too much on lemons? How much did I earn? Do I have enough to buy more supplies?” This is where accounting comes in! Accounting is the language of business, helping people like Alex track money coming in (income) and money…