Page 58 - Keeping Business Records
P. 58

Assets (6/6)


















                                         Gross
                                       Receipts.



                         Assets.                      Inventory.
                                                                                          Assets are the property, such as
                                                                                          machinery and furniture you own
                                                                                          and use in your business. You
                                        Sample                                            must keep records to verify
                                          Text                                            certain information about your
                      Employment                      Expenses.
                         Taxes.                                                           business assets. You need records
                                                                                          to figure the annual depreciation
                                        Travel,
                                       Transport,                                         and the gain or loss when you sell
                                     Entertainment                                        the assets.
                                         & Gift
                                       Expenses.












     https://lentcpa.com                                                                                                             56
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