Barb's Bakery Barb Bowman Fell into the Baking Business. It Used to Used

question 34

Multiple Choice

Barb's Bakery
Barb Bowman fell into the baking business. It used to be a hobby. She made and sold cakes and cookies for birthdays and family events in the neighborhood and for friends' parties. Now, having opened the bakery, the business has taken off and Barb is wondering what sort of records she needs to keep.

-Which of these statements would describe what Barb's Bakery owns,what it owes to others,and how much value Barb has invested in it?

• A)Income statement
• B)Balance sheet
• C)Statement of retained earnings
• D)Statement of owner's equity

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