Jeremy opened a vehicle repair garage with a capital of £10,000. He made the following payments on the first day:

(a) Paid £1,000 as rent for the premises.

(b) Paid £3,000 for furniture.

(c) Paid £4,200 for buying a crankshaft and other tools.

(d) Paid £180 to advertise his services.

(e) Paid £20 on staff lunch.

Required: 

Identify whether each payment is for an asset or is an expense.