1. **State the problem:** We know that 50% of the children travel by bus, and this 50% corresponds to 500 children. We need to find the total number of children attending the school. 2. **Formula used:** Percentage problems often use the formula: $$\text{Part} = \text{Percent} \times \text{Whole}$$ where "Part" is the portion of the total, "Percent" is the percentage expressed as a decimal, and "Whole" is the total number we want to find. 3. **Set up the equation:** Here, the part is 500 children, and the percent is 50%, which as a decimal is $0.50$. Let the total number of children be $x$. $$500 = 0.50 \times x$$ 4. **Solve for $x$:** Divide both sides by 0.50 to isolate $x$. $$\frac{500}{\cancel{0.50}} = \frac{0.50 \times x}{\cancel{0.50}}$$ $$x = \frac{500}{0.50}$$ 5. **Calculate the value:** $$x = 1000$$ 6. **Answer:** There are 1000 children attending the school.