$5500 cash in the business checking account
Current Asset
Money owed to the business from other businesses for services
Current Asset
Ingredients like flour, sugar, eggs, butter, and flavorings that the bakery has in stock to create its products.
Current Asset
pre-packaged pastries, cookies, and cakes that are ready for sale on the bakery's shelves.
Current Asset
Payments made in advance for business expenses like rent for the bakery space, insurance, and utility bills.
Current Asset
Funds set aside in a money market account that the bakery can quickly access for operational needs.
Current Asset
Payments made in advance to suppliers for large ingredient orders to secure future deliveries.
Current Asset
Amounts received from customers who have placed advance orders for custom cakes or pastries for upcoming events, securing their orders.
Current Asset
Bakery Equipment: Industrial-grade ovens, mixers, dough sheeters, and proofing cabinets used in the production of baked goods.
Fixed Asset
Refrigeration Units: Large commercial refrigerators and freezers to store ingredients, perishable goods, and finished products.
Fixed Asset
Delivery Vehicle: A bakery-owned delivery van used to transport goods to local retailers or for catering events.
Fixed Asset
Furniture: Tables and chairs for the bakery's seating area, creating a comfortable atmosphere for customers.
Fixed Asset
Accounts Payable: Money owed to suppliers and vendors for ingredients, packaging materials, and equipment purchases.
Current Liability
Short-Term Loans: Borrowed funds with a repayment term of less than one year to cover temporary working capital needs.
Current liability
Accrued Wages: Employee salaries and wages that have been earned but not yet paid at the end of the accounting period.
Current liability
