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Sally’s bakeshop
Sally Smith just opened a bakeshop. Since Sally is
not an accountant but a pastry chef, she’s having
difficulty in doing the recordkeeping of the
financial resources of the business. Help Sally to
organize her bakeshop’s Statements of Financial
Position by identifying and classifying the different
assets of the business.
Assignment:
The following are account titles of Sally’s
bakeshop:
1. Paper bills
2. Chairs and Tables
3. Oven
4. Promissory Notes from Customer
5. Tools and Ingredients
Assignment:
The following are account titles of Sally’s
bakeshop:
6. Cupcakes, breads and cakes
7. Store Building
8. Display Cabinet
9. Delivery Van
10. Electric Fan
Assignment:
NAME OF ASSETS ACCOUNT TITLE CLASSICATION

CHAIR FURNITURE & FIXTURE NON CURRENT