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Prepare a list of a) Various assets you have purchased with value in monetary terms b) Amount of total purchases c) Various other expenses you incur in the business d) Annual sale of goods e) Annual income you are generating showing the calculation (Revenue – Expenses) f) Capital you have invested in the business g) Other Liabilities, if any.(any loan taken) h) Amount of Drawings?
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Prepare a list of a) Various assets you have purchased with value in m...
Assets Purchased


  • Office Equipment - $5000

  • Inventory - $10000

  • Computer Systems - $8000



Total Purchases

$23,000


Other Business Expenses


  • Rent - $1000/month

  • Utilities - $500/month

  • Salaries - $2000/month

  • Marketing - $1000/month



Annual Sales of Goods

$60,000


Annual Income Calculation

Revenue - Expenses = Income

$60,000 - ($1000/month + $500/month + $2000/month + $1000/month) x 12 = $39,000


Capital Invested

$50,000


Other Liabilities

No loans taken


Amount of Drawings

$10,000

Drawings refer to the funds withdrawn from the business by the owner for personal use. In this case, $10,000 has been withdrawn by the owner for personal use.
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Prepare a list of a) Various assets you have purchased with value in monetary terms b) Amount of total purchases c) Various other expenses you incur in the business d) Annual sale of goods e) Annual income you are generating showing the calculation (Revenue – Expenses) f) Capital you have invested in the business g) Other Liabilities, if any.(any loan taken) h) Amount of Drawings?
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Prepare a list of a) Various assets you have purchased with value in monetary terms b) Amount of total purchases c) Various other expenses you incur in the business d) Annual sale of goods e) Annual income you are generating showing the calculation (Revenue – Expenses) f) Capital you have invested in the business g) Other Liabilities, if any.(any loan taken) h) Amount of Drawings? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about Prepare a list of a) Various assets you have purchased with value in monetary terms b) Amount of total purchases c) Various other expenses you incur in the business d) Annual sale of goods e) Annual income you are generating showing the calculation (Revenue – Expenses) f) Capital you have invested in the business g) Other Liabilities, if any.(any loan taken) h) Amount of Drawings? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Prepare a list of a) Various assets you have purchased with value in monetary terms b) Amount of total purchases c) Various other expenses you incur in the business d) Annual sale of goods e) Annual income you are generating showing the calculation (Revenue – Expenses) f) Capital you have invested in the business g) Other Liabilities, if any.(any loan taken) h) Amount of Drawings?.
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