What is your reason for not including the said expenses

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Problem - Juan dela Cruz opened his pet shop business called Petness First Petshop. He opened a bank account for his business and deposit 500,000. The business earned 50,000 but he had doubts with the recorded expenses of 60,000. He is not sure if he should include the following items as expenses:

Salary expenses - 20,000

Rent expenses - 10,000

Utility expenses (at home) - 15,000

Utility expenses (at the store) - 10,000

Insurance expenses - 5,000

Withdrawals - 10,000

Required -

-Which of the following expenses cited above do you think should not be included in the business financial report of Mr. dela Cruz?

-What is your reason for not including the said expenses?

Reference no: EM132929395

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